Cresco Labs (OTCMKTS:CRLBF – Get Free Report) announced its earnings results on Friday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01), Zacks reports. Cresco Labs had a negative return on equity of 7.53% and a negative net margin of 15.50%.
Cresco Labs Stock Down 2.2%
Shares of CRLBF stock traded down $0.01 during trading hours on Friday, hitting $0.56. 389,436 shares of the company’s stock traded hands, compared to its average volume of 700,016. The stock’s fifty day simple moving average is $0.68 and its two-hundred day simple moving average is $0.85. Cresco Labs has a 12-month low of $0.55 and a 12-month high of $2.30. The stock has a market cap of $207.18 million, a price-to-earnings ratio of -1.85 and a beta of 1.60. The company has a quick ratio of 0.98, a current ratio of 1.78 and a debt-to-equity ratio of 1.66.
Analysts Set New Price Targets
A number of equities analysts have issued reports on CRLBF shares. Zacks Research downgraded Cresco Labs from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Alliance Global Partners restated a “buy” rating on shares of Cresco Labs in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Cresco Labs presently has an average rating of “Buy”.
Check Out Our Latest Report on CRLBF
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.
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