Cresco Labs (OTCMKTS:CRLBF) Shares Gap Up – Here’s What Happened

Cresco Labs Inc. (OTCMKTS:CRLBF) gapped up prior to trading on Friday . The stock had previously closed at $1.20, but opened at $1.3350. Cresco Labs shares last traded at $1.4075, with a volume of 1,434,600 shares trading hands.

Analyst Upgrades and Downgrades

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

Cresco Labs Price Performance

The business’s 50 day moving average is $1.07 and its two-hundred day moving average is $0.94. The firm has a market capitalization of $469.83 million, a PE ratio of -8.80 and a beta of 1.55. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.49 and a quick ratio of 1.54.

Cresco Labs (OTCMKTS:CRLBF) last released its quarterly earnings results on Friday, November 7th. The company reported ($0.05) 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 return on equity of 14.25% and a negative net margin of 7.79%. As a group, research analysts anticipate that Cresco Labs Inc. will post -0.2 EPS for the current year.

Cresco Labs Company Profile

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.