Cresco Labs (OTCMKTS:CRLBF) Stock Rating Lowered by Zacks Research

Cresco Labs (OTCMKTS:CRLBF) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday, Zacks reports.

Separately, Alliance Global Partners reaffirmed a “buy” rating on shares of Cresco Labs in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Cresco Labs currently has an average rating of “Buy”.

Cresco Labs Trading Down 4.1%

CRLBF opened at $0.57 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.78 and a debt-to-equity ratio of 1.66. Cresco Labs has a twelve month low of $0.55 and a twelve month high of $2.30. The company has a 50-day simple moving average of $0.68 and a 200 day simple moving average of $0.85.

Cresco Labs (OTCMKTS:CRLBF) last released its earnings results on Thursday, August 6th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.06. The firm had revenue of $173.34 million for the quarter, compared to analyst estimates of $166.20 million. Cresco Labs had a negative net margin of 15.50% and a negative return on equity of 7.53%. On average, research analysts predict that Cresco Labs will post -0.04 earnings per share for the current fiscal year.

Cresco Labs Company Profile

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.