Cresco Labs (OTCMKTS:CRLBF – Get Free Report) released its quarterly earnings data on Friday. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01), Zacks reports. Cresco Labs had a negative net margin of 15.50% and a negative return on equity of 7.53%. The business had revenue of $172.78 million for the quarter, compared to the consensus estimate of $173.66 million.
Cresco Labs Trading Down 2.2%
CRLBF traded down $0.01 during trading on Friday, reaching $0.56. The company had a trading volume of 389,436 shares, compared to its average volume of 446,406. The stock has a market cap of $207.18 million, a P/E ratio of -1.85 and a beta of 1.60. The business has a 50 day simple moving average of $0.68 and a 200-day simple moving average of $0.85. Cresco Labs has a 52 week low of $0.55 and a 52 week high of $2.30. The company has a quick ratio of 0.98, a current ratio of 1.78 and a debt-to-equity ratio of 1.66.
Analyst Ratings Changes
A number of research firms have recently weighed in on CRLBF. Zacks Research downgraded shares of Cresco Labs from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Alliance Global Partners reaffirmed a “buy” rating on shares of Cresco Labs in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Cresco Labs presently has an average rating of “Buy”.
Read Our Latest Research Report on Cresco Labs
About Cresco Labs
Cresco Labs Inc is a Chicago-based cannabis company that cultivates, manufactures and distributes cannabis products in the United States. Founded in 2013, the company operates as a multistate cannabis operator, serving regulated markets through a combination of wholesale operations and retail dispensaries.
The company’s product portfolio includes flower, pre-rolls, vape products, concentrates, edibles and other cannabis-related goods. Its principal brands have included Cresco, High Supply, Good News, Wonder Wellness, FloraCal Farms and Mindy’s Edibles.
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