Cresco Labs (OTCMKTS:CRLBF) Stock Price Up 10.7% – Time to Buy?

Cresco Labs Inc. (OTCMKTS:CRLBF) rose 10.7% on Tuesday . The company traded as high as $1.49 and last traded at $1.4390. Approximately 1,132,499 shares traded hands during mid-day trading, an increase of 27% from the average daily volume of 890,499 shares. The stock had previously closed at $1.30.

Analyst Ratings Changes

CRLBF has been the subject of several research analyst reports. ATB Capital raised Cresco Labs to an “outperform” rating in a report on Tuesday, December 2nd. Zacks Research upgraded shares of Cresco Labs from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Atb Cap Markets raised shares of Cresco Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy”.

Cresco Labs Stock Up 13.1%

The firm has a market capitalization of $523.22 million, a price-to-earnings ratio of -9.80 and a beta of 1.55. The firm has a fifty day moving average price of $1.06 and a 200 day moving average price of $0.92. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.54 and a current ratio of 2.49.

Cresco Labs (OTCMKTS:CRLBF) last issued 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). The company had revenue of $165.00 million during the quarter, compared to analysts’ expectations of $163.74 million. Cresco Labs had a negative net margin of 7.79% and a negative return on equity of 14.25%. As a group, sell-side analysts expect that Cresco Labs Inc. will post -0.2 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.