Cresco Labs (OTCMKTS:CRLBF) Stock Price Down 4.9% – Here’s Why

Cresco Labs Inc. (OTCMKTS:CRLBF)’s stock price traded down 4.9% during mid-day trading on Monday . The stock traded as low as $0.7650 and last traded at $0.77. Approximately 554,892 shares were traded during trading, an increase of 2% from the average daily volume of 544,753 shares. The stock had previously closed at $0.81.

Wall Street Analysts Forecast Growth

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

Cresco Labs Price Performance

The company has a market cap of $387.13 million, a P/E ratio of -1.97 and a beta of 1.51. The company has a current ratio of 2.51, a quick ratio of 1.41 and a debt-to-equity ratio of 1.78. The firm has a 50 day moving average of $0.93 and a 200-day moving average of $1.03.

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