Cresco Labs Inc. (OTCMKTS:CRLBF - Get Free Report)'s stock price fell 2% on Monday following a weaker than expected earnings announcement. The stock traded as low as $0.58 and last traded at $0.59. 549,348 shares were traded during mid-day trading, a decline of 14% from the average session volume of 640,046 shares. The stock had previously closed at $0.60.
The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.01). The firm had revenue of $165.76 million during the quarter, compared to analyst estimates of $164.37 million. Cresco Labs had a negative net margin of 9.15% and a negative return on equity of 16.52%.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on CRLBF. Canaccord Genuity Group cut Cresco Labs from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday. Cormark upgraded Cresco Labs from a "hold" rating to a "moderate buy" rating in a research report on Monday, March 17th. Two investment analysts have rated the stock with a hold rating and two have issued a strong buy rating to the stock. According to MarketBeat, Cresco Labs presently has a consensus rating of "Buy".
Read Our Latest Analysis on Cresco Labs
Cresco Labs Stock Up 1.9%
The firm has a fifty day moving average price of $0.68 and a 200 day moving average price of $0.83. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 1.80. The company has a market cap of $265.30 million, a P/E ratio of -2.70 and a beta of 1.73.
About Cresco Labs
(
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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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