Cresco Labs (OTCMKTS:CRLBF) Trading Down 1.2% – Should You Sell?

Cresco Labs Inc. (OTCMKTS:CRLBF)’s stock price traded down 1.2% during mid-day trading on Friday . The stock traded as low as $0.49 and last traded at $0.50. 268,752 shares were traded during trading, a decline of 56% from the average session volume of 604,768 shares. The stock had previously closed at $0.51.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Canaccord Genuity Group lowered Cresco Labs from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, June 3rd. Cormark upgraded Cresco Labs from a “hold” rating to a “moderate buy” rating in a report on Monday, March 17th. Two research analysts have rated the stock with a hold rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Cresco Labs Stock Performance

The company has a market capitalization of $246.49 million, a PE ratio of -2.09 and a beta of 1.47. The company has a current ratio of 2.75, a quick ratio of 1.98 and a debt-to-equity ratio of 1.63. The firm’s 50-day simple moving average is $0.65 and its 200-day simple moving average is $0.77.

Cresco Labs (OTCMKTS:CRLBF) last announced its quarterly earnings results on Friday, May 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The firm had revenue of $165.76 million during the quarter, compared to analysts’ expectations of $164.37 million. Cresco Labs had a negative net margin of 11.86% and a negative return on equity of 21.77%. On average, research analysts predict that Cresco Labs Inc. will post -0.2 earnings per share for the current year.

About Cresco Labs

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.