Cresco Labs (OTCMKTS:CRLBF) Upgraded at Zacks Research

Zacks Research upgraded shares of Cresco Labs (OTCMKTS:CRLBF) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks reports.

Separately, Alliance Global Partners reaffirmed a “buy” rating on shares of Cresco Labs in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to data from MarketBeat, Cresco Labs currently has an average rating of “Strong Buy”.

Cresco Labs Stock Performance

CRLBF opened at $0.64 on Tuesday. The stock has a market capitalization of $236.81 million, a price-to-earnings ratio of -2.12 and a beta of 1.59. The company has a fifty day moving average of $0.74 and a 200 day moving average of $0.83. Cresco Labs has a fifty-two week low of $0.59 and a fifty-two week high of $2.30. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.98 and a current ratio of 1.78.

Cresco Labs (OTCMKTS:CRLBF) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The company had revenue of $173.34 million for the quarter, compared to the consensus estimate of $166.20 million. Cresco Labs had a negative net margin of 15.50% and a negative return on equity of 7.53%. As a group, sell-side analysts forecast that Cresco Labs will post -0.04 earnings per share for the current fiscal year.

Cresco Labs Company Profile

Cresco Labs Inc is a vertically integrated cannabis company headquartered in Chicago, Illinois. Founded in 2013, the company cultivates, manufactures and distributes cannabis products for adult-use and medical markets in states where cannabis is legally permitted.

The company’s product portfolio includes flower, pre-rolls, vapes, concentrates, edibles and other cannabis products sold under brands such as Cresco, High Supply, Good News, Wonder Wellness, FloraCal, Remedi and Mindy’s Edibles.