Cresco Labs (OTCMKTS:CRLBF) Posts Earnings Results, Misses Estimates By $0.01 EPS

Cresco Labs (OTCMKTS:CRLBF) released its earnings results on Friday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01), Zacks reports. Cresco Labs had a negative return on equity of 7.53% and a negative net margin of 15.50%.

Cresco Labs Price Performance

Cresco Labs stock traded down $0.01 during midday trading on Friday, reaching $0.56. 389,436 shares of the stock traded hands, compared to its average volume of 700,016. The stock has a market cap of $207.18 million, a P/E ratio of -1.85 and a beta of 1.60. The stock’s fifty day moving average is $0.68 and its 200-day moving average is $0.85. The company has a quick ratio of 0.98, a current ratio of 1.78 and a debt-to-equity ratio of 1.66. Cresco Labs has a 12 month low of $0.55 and a 12 month high of $2.30.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CRLBF shares. Alliance Global Partners reaffirmed a “buy” rating on shares of Cresco Labs in a report on Thursday, August 6th. Zacks Research lowered shares of Cresco Labs from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy”.

Cresco Labs Company Profile

Cresco Labs Inc is a Chicago-based cannabis company that cultivates, manufactures and distributes cannabis products in the United States. Founded in 2013, the company operates as a multistate cannabis operator, serving regulated markets through a combination of wholesale operations and retail dispensaries.

The company’s product portfolio includes flower, pre-rolls, vape products, concentrates, edibles and other cannabis-related goods. Its principal brands have included Cresco, High Supply, Good News, Wonder Wellness, FloraCal Farms and Mindy’s Edibles.