Cresco Labs (OTCMKTS:CRLBF) Lowered to Strong Sell Rating by Zacks Research

Key Points

• Zacks Research has downgraded Cresco Labs from a "hold" rating to a "strong sell" rating, indicating analysts' concerns about the company's performance.
• Cresco Labs reported a lower-than-expected earnings per share of ($0.05) for the last quarter, falling short of analyst estimates.
• The stock has a current market cap of $500.08 million and a significant debt-to-equity ratio of 1.33, raising questions about its financial health.

Cresco Labs (OTCMKTS:CRLBF - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Tuesday,Zacks.com reports.

Cresco Labs Trading Up 4.1%

OTCMKTS CRLBF opened at $1.41 on Tuesday. Cresco Labs has a one year low of $0.43 and a one year high of $1.74. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.10 and a quick ratio of 2.22. The firm has a market cap of $500.08 million, a P/E ratio of -10.81 and a beta of 1.52. The stock's 50-day moving average is $1.20 and its 200-day moving average is $0.83.

Cresco Labs (OTCMKTS:CRLBF - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Cresco Labs had a negative return on equity of 11.77% and a negative net margin of 6.67%.The company had revenue of $163.62 million for the quarter, compared to analyst estimates of $162.00 million. Sell-side analysts anticipate that Cresco Labs will post -0.2 earnings per share for the current fiscal 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.

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