Shares of Cresco Labs Inc. (OTCMKTS:CRLBF – Get Free Report) fell 4.8% during trading on Monday . The stock traded as low as $1.11 and last traded at $1.14. 762,110 shares traded hands during trading, an increase of 9% from the average session volume of 700,815 shares. The stock had previously closed at $1.20.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the stock. Stifel Nicolaus lowered their target price on shares of Cresco Labs from C$2.00 to C$1.50 in a research note on Thursday, August 17th. Alliance Global Partners lowered their target price on shares of Cresco Labs from C$5.00 to C$4.00 in a research note on Wednesday, August 16th. Finally, Atb Cap Markets restated an “outperform” rating on shares of Cresco Labs in a research note on Sunday, September 24th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.35.
Cresco Labs Stock Down 4.8 %
Cresco Labs (OTCMKTS:CRLBF – Get Free Report) last released its earnings results on Wednesday, August 16th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The firm had revenue of $197.89 million during the quarter, compared to analysts’ expectations of $194.60 million. Cresco Labs had a negative return on equity of 9.52% and a negative net margin of 29.14%. As a group, analysts predict that Cresco Labs Inc. will post -0.25 EPS 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.
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