Cresco Labs (OTCMKTS:CRLBF) Shares Gap Down – Should You Sell?

Cresco Labs Inc. (OTCMKTS:CRLBF)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $1.19, but opened at $1.10. Cresco Labs shares last traded at $1.1435, with a volume of 127,733 shares.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Cresco Labs from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

Cresco Labs Price Performance

The stock has a market capitalization of $507.78 million, a P/E ratio of -2.59 and a beta of 1.49. The business has a fifty day simple moving average of $0.97 and a 200 day simple moving average of $1.06. The company has a current ratio of 2.59, a quick ratio of 1.60 and a debt-to-equity ratio of 1.72.

Cresco Labs (OTCMKTS:CRLBF) last announced its earnings results on Thursday, March 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). The company had revenue of $164.04 million for the quarter, compared to analysts’ expectations of $160.87 million. Cresco Labs had a negative return on equity of 16.61% and a negative net margin of 20.65%. On average, analysts expect that Cresco Labs Inc. will post -0.11 earnings per share 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.