Cresco Labs (OTCMKTS:CRLBF) Trading Down 12.3% – What’s Next?

Shares of Cresco Labs Inc. (OTCMKTS:CRLBF) fell 12.3% during mid-day trading on Thursday . The stock traded as low as $1.41 and last traded at $1.68. 4,433,169 shares were traded during mid-day trading, an increase of 379% from the average session volume of 924,955 shares. The stock had previously closed at $1.9160.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Atb Cap Markets raised Cresco Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. Zacks Research raised shares of Cresco Labs from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, ATB Capital raised shares of 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, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy”.

Cresco Labs Price Performance

The company has a 50 day moving average of $1.07 and a 200 day moving average of $0.94. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.54 and a current ratio of 2.49. The stock has a market capitalization of $427.12 million, a price-to-earnings ratio of -8.00 and a beta of 1.55.

Cresco Labs (OTCMKTS:CRLBF) last announced its quarterly earnings data on Friday, November 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Cresco Labs had a negative net margin of 7.79% and a negative return on equity of 14.25%. The company had revenue of $165.00 million during the quarter, compared to analysts’ expectations of $163.74 million. As a group, equities research analysts anticipate that Cresco Labs Inc. will post -0.2 EPS for the current year.

About Cresco Labs

Cresco Labs Inc, together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand; vape carts, vape pens, flower, popcorn, shake, pre-rolls, shorties, and concentrates under the High Supply brand; vapes and gummies under the Good News brand; vapes and edibles under the Wonder Wellness Co brand; and tinctures, capsules, salves, and sublingual oils under the Remedi brand.