Cresco Labs (OTCMKTS:CRLBF) Releases Earnings Results, Meets Estimates

Cresco Labs (OTCMKTS:CRLBF - Get Free Report) issued its quarterly earnings results on Friday. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01), Zacks reports. Cresco Labs had a negative return on equity of 16.52% and a negative net margin of 9.15%. The company had revenue of $176.00 million for the quarter, compared to analysts' expectations of $172.10 million.

Cresco Labs Trading Up 1.4 %

OTCMKTS CRLBF traded up $0.01 on Wednesday, hitting $0.72. 2,218,801 shares of the company were exchanged, compared to its average volume of 621,663. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.97 and a quick ratio of 1.39. Cresco Labs has a twelve month low of $0.70 and a twelve month high of $2.60. The firm has a market capitalization of $349.02 million, a P/E ratio of -3.58 and a beta of 1.79. The company's 50 day moving average price is $0.88 and its 200-day moving average price is $1.19.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Cormark upgraded shares of Cresco Labs from a "hold" rating to a "moderate buy" rating in a research report on Monday. Atb Cap Markets downgraded shares of Cresco Labs from a "strong-buy" rating to a "hold" rating in a report on Monday, December 9th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Cresco Labs currently has an average rating of "Buy" and an average price target of $3.00.

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Cresco Labs Company Profile

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.