Cresco Labs (OTCMKTS:CRLBF – Get Free Report) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday, Zacks reports.
Separately, Alliance Global Partners reaffirmed a “buy” rating on shares of Cresco Labs in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy”.
View Our Latest Stock Report on CRLBF
Cresco Labs Stock Down 4.1%
Shares of OTCMKTS CRLBF opened at $0.57 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.78 and a debt-to-equity ratio of 1.66. The stock’s fifty day moving average price is $0.68 and its two-hundred day moving average price is $0.85. Cresco Labs has a one year low of $0.55 and a one year high of $2.30.
Cresco Labs (OTCMKTS:CRLBF – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.06. The firm had revenue of $173.34 million for the quarter, compared to analysts’ expectations of $166.20 million. Cresco Labs had a negative return on equity of 7.53% and a negative net margin of 15.50%. On average, sell-side analysts anticipate that Cresco Labs will post -0.04 earnings per share for the current year.
About Cresco Labs
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.
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