Cresco Labs (OTCMKTS:CRLBF) Shares Up 5.3% – Here’s Why

Shares of Cresco Labs Inc. (OTCMKTS:CRLBF) traded up 5.3% on Monday . The stock traded as high as $0.8128 and last traded at $0.80. 324,825 shares changed hands during trading, a decline of 21% from the average daily volume of 408,964 shares. The stock had previously closed at $0.76.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Cresco Labs from a “strong sell” rating to a “hold” rating in a 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 MarketBeat.com, Cresco Labs has an average rating of “Buy”.

Cresco Labs Stock Performance

The company has a debt-to-equity ratio of 1.78, a current ratio of 2.51 and a quick ratio of 1.41. The stock’s 50 day simple moving average is $0.87 and its two-hundred day simple moving average is $0.99. The stock has a market cap of $402.21 million, a P/E ratio of -2.05 and a beta of 1.52.

Cresco Labs (OTCMKTS:CRLBF) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Cresco Labs had a negative return on equity of 17.98% and a negative net margin of 20.90%.The company had revenue of $151.32 million for the quarter, compared to the consensus estimate of $148.58 million. As a group, research analysts forecast that Cresco Labs Inc. will post -0.09 EPS for the current 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.