Cresco Labs (OTCMKTS:CRLBF) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Cresco Labs (OTCMKTS:CRLBF) from a strong sell rating to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

Separately, ATB Cormark Capital Markets upgraded shares of Cresco Labs to an “outperform” rating in a research report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy”.

Cresco Labs Price Performance

Shares of Cresco Labs stock opened at $0.92 on Tuesday. The stock has a market cap of $462.03 million, a price-to-earnings ratio of -2.36 and a beta of 1.47. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.60 and a current ratio of 2.59. The stock has a 50 day moving average price of $1.00 and a 200-day moving average price of $1.10. Cresco Labs has a one year low of $0.43 and a one year high of $2.30.

Cresco Labs (OTCMKTS:CRLBF) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). The company had revenue of $164.04 million for the quarter, compared to analyst estimates of $160.87 million. Cresco Labs had a negative return on equity of 16.61% and a negative net margin of 20.65%. Equities analysts expect that Cresco Labs will post -0.2 EPS for the current year.

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.