Cresco Labs (OTCMKTS:CRLBF) Trading Up 18.9% – What’s Next?

Cresco Labs Inc. (OTCMKTS:CRLBF)’s stock price traded up 18.9% on Wednesday . The company traded as high as $1.20 and last traded at $1.13. 782,951 shares were traded during mid-day trading, a decline of 6% from the average session volume of 835,390 shares. The stock had previously closed at $0.95.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Cresco Labs from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy”.

Cresco Labs Trading Up 7.5%

The company’s 50-day moving average is $0.96 and its 200 day moving average is $1.08. The company has a market cap of $502.76 million, a price-to-earnings ratio of -2.56 and a beta of 1.49. The company has a quick ratio of 1.60, a current ratio of 2.59 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 business had revenue of $164.04 million for the quarter, compared to analyst estimates of $160.87 million. Cresco Labs had a negative net margin of 20.65% and a negative return on equity of 16.61%. Research analysts predict that Cresco Labs Inc. will post -0.11 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.