Cresco Labs (OTCMKTS:CRLBF) Trading 8.4% Higher – Here’s Why

Cresco Labs Inc. (OTCMKTS:CRLBF)’s stock price traded up 8.4% on Tuesday . The company traded as high as $1.05 and last traded at $1.03. 848,198 shares changed hands during trading, an increase of 54% from the average session volume of 552,142 shares. The stock had previously closed at $0.9502.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. ATB Cormark Capital Markets upgraded Cresco Labs to an “outperform” rating in a research note on Tuesday, December 2nd. Zacks Research downgraded Cresco Labs from a “hold” rating to a “strong sell” rating in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Cresco Labs Price Performance

The company has a market capitalization of $368.35 million, a PE ratio of -6.87 and a beta of 1.46. The company has a current ratio of 2.49, a quick ratio of 1.54 and a debt-to-equity ratio of 1.28. The company’s 50 day moving average price is $1.17 and its 200-day moving average price is $1.14.

Cresco Labs Company Profile

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.