Cresco Labs (OTCMKTS:CRLBF) Shares Up 1.9% – What’s Next?

Cresco Labs Inc. (OTCMKTS:CRLBF) shares were up 1.9% during trading on Tuesday . The company traded as high as $1.11 and last traded at $1.06. Approximately 731,534 shares changed hands during trading, an increase of 42% from the average daily volume of 513,523 shares. The stock had previously closed at $1.04.

Analysts Set New Price Targets

CRLBF has been the subject of a number of recent analyst reports. Atb Cap Markets upgraded shares of Cresco Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 2nd. ATB Capital upgraded shares of Cresco Labs to an “outperform” rating in a report on Tuesday, December 2nd. Finally, Zacks Research upgraded shares of Cresco Labs from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Cresco Labs Stock Up 1.9%

The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.54 and a current ratio of 2.49. The company has a market capitalization of $379.08 million, a price-to-earnings ratio of -7.07 and a beta of 1.46. The stock’s fifty day simple moving average is $1.15 and its two-hundred day simple moving average is $1.10.

Cresco Labs (OTCMKTS:CRLBF) last announced its quarterly earnings data on Friday, November 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Cresco Labs had a negative return on equity of 14.25% and a negative net margin of 7.79%.The business had revenue of $165.00 million during the quarter, compared to analyst estimates of $163.74 million. On average, sell-side analysts anticipate that Cresco Labs Inc. will post -0.2 EPS for the current year.

About Cresco Labs

Cresco Labs is a vertically integrated, multi-state cannabis operator in the United States. The company engages in the cultivation, manufacturing and distribution of a broad range of cannabis products, including flower, pre-rolled joints, concentrates, vaporizers, edibles and tinctures. Cresco Labs’ operations span cultivation facilities, processing laboratories and a network of wholesale distribution centers that supply licensed dispensaries and retail outlets across key cannabis markets.

The company’s product portfolio is organized under several branded platforms, such as MÜV, Reserve and High Supply, each designed to address different segments of the adult-use and medical cannabis markets.