Cresco Labs (OTCMKTS:CRLBF) Downgraded by Canaccord Genuity Group to "Moderate Buy"

Cresco Labs (OTCMKTS:CRLBF - Get Free Report) was downgraded by analysts at Canaccord Genuity Group from a "strong-buy" rating to a "moderate buy" rating in a research note issued on Tuesday,Zacks.com reports.

Separately, Cormark upgraded shares of Cresco Labs from a "hold" rating to a "moderate buy" rating in a research note on Monday, March 17th. Two research analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy".

Cresco Labs Trading Up 1.9%

CRLBF traded up $0.01 on Tuesday, hitting $0.54. The company had a trading volume of 718,874 shares, compared to its average volume of 655,730. The firm has a market cap of $265.30 million, a P/E ratio of -2.70 and a beta of 1.47. Cresco Labs has a 1 year low of $0.49 and a 1 year high of $2.05. The company's fifty day moving average price is $0.68 and its 200 day moving average price is $0.83. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 1.80.

Cresco Labs (OTCMKTS:CRLBF - Get Free Report) last issued its quarterly earnings data on Friday, May 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The company had revenue of $165.76 million during the quarter, compared to analysts' expectations of $164.37 million. Cresco Labs had a negative net margin of 9.15% and a negative return on equity of 16.52%. As a group, equities analysts expect that Cresco Labs will post -0.2 earnings per share for the current year.

Cresco Labs Company Profile

Cresco Labs Inc, together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand; vape carts, vape pens, flower, popcorn, shake, pre-rolls, shorties, and concentrates under the High Supply brand; vapes and gummies under the Good News brand; vapes and edibles under the Wonder Wellness Co brand; and tinctures, capsules, salves, and sublingual oils under the Remedi brand.