Cresco Labs (OTCMKTS:CRLBF) Shares Gap Up – What’s Next?

by · The Markets Daily

Cresco Labs Inc. (OTCMKTS:CRLBF – Get Free Report)’s share price gapped up before the market opened on Friday . The stock had previously closed at $0.7790, but opened at $1.03. Cresco Labs shares last traded at $1.41, with a volume of 5,213,309 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Atb Cap Markets raised shares of Cresco Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. ATB Capital upgraded shares of Cresco Labs to an “outperform” rating in a research report on Tuesday, December 2nd. Finally, Zacks Research raised Cresco Labs from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Get Our Latest Stock Analysis on CRLBF

Cresco Labs Trading Up 75.2%

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 firm has a market cap of $485.67 million, a PE ratio of -9.10 and a beta of 1.55. The business has a fifty day moving average price of $1.06 and a 200 day moving average price of $0.91.

Cresco Labs (OTCMKTS:CRLBF – Get Free Report) last released its earnings results on Friday, November 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Cresco Labs had a negative net margin of 7.79% and a negative return on equity of 14.25%. The company had revenue of $165.00 million during the quarter, compared to analyst estimates of $163.74 million. Analysts forecast that Cresco Labs Inc. will post -0.2 EPS for the current year.

Cresco Labs Company Profile

(Get Free Report)

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.

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