Cresco Labs (OTCMKTS:CRLBF) Trading Up 3.6% – Still a Buy?

Shares of Cresco Labs Inc. (OTCMKTS:CRLBF) were up 3.6% during mid-day trading on Monday . The stock traded as high as $0.98 and last traded at $0.9498. Approximately 476,660 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 690,088 shares. The stock had previously closed at $0.9168.

Wall Street Analysts Forecast Growth

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

Cresco Labs Stock Performance

The company’s fifty day moving average is $0.96 and its 200 day moving average is $1.03. The company has a market capitalization of $477.52 million, a P/E ratio of -2.44 and a beta of 1.51. The company has a current ratio of 2.51, a quick ratio of 1.41 and a debt-to-equity ratio of 1.78.

Cresco Labs (OTCMKTS:CRLBF) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The business had revenue of $151.33 million during the quarter, compared to the consensus estimate of $148.58 million. Cresco Labs had a negative return on equity of 17.98% and a negative net margin of 20.90%. As a group, equities analysts anticipate that Cresco Labs Inc. will post -0.09 earnings per share 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.