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

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

Wall Street Analysts Forecast Growth

CRLBF has been the subject of several analyst reports. ATB Cormark Capital Markets raised Cresco Labs to an “outperform” rating in a research report on Tuesday, December 2nd. Zacks Research cut Cresco Labs from a “hold” rating to a “strong sell” rating in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Cresco Labs Stock Up 8.4%

The business has a 50 day moving average of $1.17 and a 200-day moving average of $1.14. The stock has a market cap 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.

About Cresco Labs

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.