Cresco Labs (OTCMKTS:CRLBF) Posts Quarterly Earnings Results

Cresco Labs (OTCMKTS:CRLBF) issued its earnings results on Friday. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01), Zacks reports. Cresco Labs had a negative return on equity of 16.61% and a negative net margin of 20.65%.

Cresco Labs Price Performance

Shares of Cresco Labs stock traded down $0.07 on Friday, hitting $1.03. The company’s stock had a trading volume of 1,725,173 shares, compared to its average volume of 936,485. Cresco Labs has a 52-week low of $0.43 and a 52-week high of $2.30. The company has a quick ratio of 1.60, a current ratio of 2.59 and a debt-to-equity ratio of 1.72. The firm has a fifty day moving average price of $0.98 and a 200-day moving average price of $1.06. The company has a market capitalization of $517.84 million, a P/E ratio of -2.64 and a beta of 1.59.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Cresco Labs from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Cresco Labs Company Profile

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.