Cresco Labs (OTCMKTS:CRLBF) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Cresco Labs (OTCMKTS:CRLBF) from a strong-buy rating to a hold rating in a report published on Wednesday,Zacks reports.

Separately, Alliance Global Partners reaffirmed a “buy” rating on shares of Cresco Labs in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cresco Labs presently has a consensus rating of “Buy”.

Cresco Labs Trading Down 2.2%

OTCMKTS CRLBF traded down $0.01 on Wednesday, reaching $0.56. The company had a trading volume of 389,436 shares, compared to its average volume of 446,406. The firm has a market cap of $207.18 million, a price-to-earnings ratio of -1.85 and a beta of 1.60. Cresco Labs has a fifty-two week low of $0.55 and a fifty-two week high of $2.30. The business has a 50 day moving average of $0.68 and a two-hundred day moving average of $0.85. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.78 and a quick ratio of 0.98.

Cresco Labs (OTCMKTS:CRLBF) last announced its earnings results on Friday, November 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Cresco Labs had a negative return on equity of 7.53% and a negative net margin of 15.50%. The company had revenue of $172.78 million for the quarter, compared to analyst estimates of $173.66 million. Analysts forecast that Cresco Labs will post -0.04 EPS for the current year.

About Cresco Labs

Cresco Labs Inc is a Chicago-based cannabis company that cultivates, manufactures and distributes cannabis products in the United States. Founded in 2013, the company operates as a multistate cannabis operator, serving regulated markets through a combination of wholesale operations and retail dispensaries.

The company’s product portfolio includes flower, pre-rolls, vape products, concentrates, edibles and other cannabis-related goods. Its principal brands have included Cresco, High Supply, Good News, Wonder Wellness, FloraCal Farms and Mindy’s Edibles.