Cresco Labs (OTCMKTS:CRLBF) Shares Up 5.3% – Still a Buy?

Cresco Labs Inc. (OTCMKTS:CRLBF)’s stock price rose 5.3% during trading on Monday . The company traded as high as $0.8128 and last traded at $0.80. 324,825 shares changed hands during trading, a decline of 21% from the average daily volume of 408,964 shares. The stock had previously closed at $0.76.

Analysts Set New Price Targets

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 investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Cresco Labs currently has an average rating of “Buy”.

Cresco Labs Stock Performance

The firm has a fifty day moving average of $0.87 and a 200-day moving average of $0.99. The company has a quick ratio of 1.41, a current ratio of 2.51 and a debt-to-equity ratio of 1.78. The firm has a market cap of $378.88 million, a P/E ratio of -1.93 and a beta of 1.52.

Cresco Labs (OTCMKTS:CRLBF) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The firm had revenue of $151.32 million for 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%. Research analysts predict that Cresco Labs Inc. will post -0.09 earnings per share for the current fiscal year.

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.