Cresco Labs (OTCMKTS:CRLBF) Shares Up 8.4% – Time to Buy?

Cresco Labs Inc. (OTCMKTS:CRLBF) shares traded up 8.4% during trading on Tuesday . The stock traded as high as $1.05 and last traded at $1.03. 848,198 shares changed hands during trading, an increase of 54% from the average session volume of 552,142 shares. The stock had previously closed at $0.9502.

Analysts Set New Price Targets

A number of research firms recently commented on CRLBF. Zacks Research downgraded Cresco Labs from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. ATB Cormark Capital Markets raised Cresco Labs to an “outperform” rating in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Cresco Labs currently has a consensus rating of “Moderate Buy”.

Cresco Labs Stock Up 1.1%

The company has a market cap of $371.92 million, a PE ratio of -6.93 and a beta of 1.46. The company has a fifty day moving average of $1.15 and a two-hundred day moving average of $1.14. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.54 and a current ratio of 2.49.

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.