Cresco Labs (OTCMKTS:CRLBF) Stock Price Down 1%

Cresco Labs Inc. (OTCMKTS:CRLBF)’s stock price traded down 1% during mid-day trading on Monday . The company traded as low as $1.92 and last traded at $1.98. 433,957 shares changed hands during trading, a decline of 53% from the average session volume of 921,794 shares. The stock had previously closed at $2.00.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CRLBF shares. Echelon Wealth Partners raised shares of Cresco Labs from a “hold” rating to a “buy” rating in a report on Wednesday, March 13th. Roth Mkm increased their target price on shares of Cresco Labs from $1.75 to $2.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th.

Cresco Labs Stock Performance

The firm’s 50-day moving average price is $1.93 and its two-hundred day moving average price is $1.77. The company has a quick ratio of 0.85, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $684.33 million, a PE ratio of -3.67 and a beta of 2.29.

Cresco Labs (OTCMKTS:CRLBF) last posted its quarterly earnings data on Friday, March 15th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03. Cresco Labs had a negative net margin of 22.77% and a negative return on equity of 10.51%. The firm had revenue of $188.24 million for the quarter, compared to analysts’ expectations of $181.36 million. As a group, research analysts predict that Cresco Labs Inc. will post -0.07 earnings per share for the current fiscal year.

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.