Cresco Labs (OTCMKTS:CRLBF) Upgraded at Zacks Research

Zacks Research upgraded shares of Cresco Labs (OTCMKTS:CRLBF) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

Separately, ATB Cormark Capital Markets upgraded Cresco Labs to an “outperform” rating in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Cresco Labs currently has a consensus rating of “Buy”.

Cresco Labs Stock Performance

Shares of CRLBF stock opened at $0.96 on Tuesday. Cresco Labs has a 12-month low of $0.43 and a 12-month high of $2.30. The business’s fifty day simple moving average is $1.00 and its 200-day simple moving average is $1.10. The company has a current ratio of 2.59, a quick ratio of 1.60 and a debt-to-equity ratio of 1.72. The company has a market cap of $485.06 million, a PE ratio of -2.47 and a beta of 1.49.

Cresco Labs (OTCMKTS:CRLBF) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). Cresco Labs had a negative return on equity of 16.61% and a negative net margin of 20.65%.The firm had revenue of $164.04 million during the quarter, compared to analysts’ expectations of $160.87 million. Analysts expect that Cresco Labs will post -0.2 earnings per share for the current fiscal year.

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.