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

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

Cresco Labs Trading Up 1.4 %

Shares of Cresco Labs stock traded up $0.01 during trading hours on Wednesday, hitting $0.72. The company's stock had a trading volume of 2,218,801 shares, compared to its average volume of 621,663. The company has a market capitalization of $349.02 million, a PE ratio of -3.58 and a beta of 1.79. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.97 and a quick ratio of 1.39. The stock has a 50 day moving average of $0.88 and a 200 day moving average of $1.19. Cresco Labs has a 12 month low of $0.70 and a 12 month high of $2.60.

Wall Street Analyst Weigh In

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

Remove Ads

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.