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

Cresco Labs Inc. (OTCMKTS:CRLBF) shares gapped up before the market opened on Thursday . The stock had previously closed at $1.18, but opened at $1.26. Cresco Labs shares last traded at $1.24, with a volume of 818,069 shares.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Cresco Labs from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy”.

Cresco Labs Stock Down 7.2%

The company has a fifty day moving average of $0.97 and a two-hundred day moving average of $1.08. The company has a market cap of $550.67 million, a PE ratio of -2.81 and a beta of 1.49. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.60 and a current ratio of 2.59.

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). Cresco Labs had a negative return on equity of 16.61% and a negative net margin of 20.65%.The company had revenue of $164.04 million for the quarter, compared to analyst estimates of $160.87 million. As a group, analysts anticipate that Cresco Labs Inc. will post -0.11 earnings per share for the current fiscal 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.