Cresco Labs (OTCMKTS:CRLBF) Shares Gap Up – Time to Buy?

Shares of Cresco Labs Inc. (OTCMKTS:CRLBF) gapped up before the market opened on Tuesday . The stock had previously closed at $1.02, but opened at $1.13. Cresco Labs shares last traded at $1.0361, with a volume of 70,809 shares.

Wall Street Analysts Forecast Growth

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

Cresco Labs Price Performance

The stock has a market capitalization of $527.89 million, a PE ratio of -2.69 and a beta of 1.59. The firm’s 50 day simple moving average is $0.97 and its 200 day simple moving average is $1.06. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.59 and a quick ratio of 1.60.

Cresco Labs (OTCMKTS:CRLBF) last issued its earnings results on Thursday, March 5th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). Cresco Labs had a negative net margin of 20.65% and a negative return on equity of 16.61%. The company had revenue of $164.04 million for the quarter, compared to the consensus estimate of $160.87 million. As a group, equities analysts forecast that Cresco Labs Inc. will post -0.08 EPS for the current fiscal 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.