Cresco Labs (OTCMKTS:CRLBF) Cut to "Hold" at Cormark

Cresco Labs (OTCMKTS:CRLBF - Get Free Report) was downgraded by stock analysts at Cormark from a "moderate buy" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports. Cormark also issued estimates for Cresco Labs' FY2024 earnings at ($0.21) EPS and FY2025 earnings at $0.03 EPS.

Several other equities analysts have also commented on the stock. Ventum Cap Mkts raised shares of Cresco Labs to a "strong-buy" rating in a report on Friday, August 9th. Roth Capital raised shares of Cresco Labs to a "strong-buy" rating in a report on Sunday. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Cresco Labs in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $2.50.

Cresco Labs Price Performance

OTCMKTS:CRLBF traded up $0.18 during trading hours on Monday, hitting $1.44. The stock had a trading volume of 919,928 shares, compared to its average volume of 752,714. Cresco Labs has a one year low of $1.02 and a one year high of $2.65. The company has a 50 day simple moving average of $1.58 and a two-hundred day simple moving average of $1.70. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.00 and a quick ratio of 1.30. The firm has a market capitalization of $702.92 million, a price-to-earnings ratio of -7.20 and a beta of 1.88.

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.