Cresco Labs (OTCMKTS:CRLBF) Shares Gap Down - Time to Sell?

Key Points

• Cresco Labs shares opened at $1.38 after gapping down from a previous close of $1.44, with the most recent trading price at $1.47.
• The company reported a quarterly earnings miss, posting an EPS of ($0.05) against analysts' expectations of ($0.04), while achieving revenue of $163.62 million.
• Cresco Labs has a market capitalization of approximately $494.74 million and a debt-to-equity ratio of 1.33, indicating potential financial stability concerns.

Cresco Labs Inc. (OTCMKTS:CRLBF - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $1.44, but opened at $1.38. Cresco Labs shares last traded at $1.47, with a volume of 120,798 shares trading hands.

Cresco Labs Price Performance

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 company's 50-day moving average price is $1.07 and its two-hundred day moving average price is $0.79. The company has a market capitalization of $494.74 million, a P/E ratio of -10.69 and a beta of 1.52.

Cresco Labs (OTCMKTS:CRLBF - Get Free Report) last released its quarterly 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 net margin of 6.67% and a negative return on equity of 11.77%. The business had revenue of $163.62 million during the quarter, compared to analyst estimates of $162.00 million. As a group, sell-side analysts expect that Cresco Labs Inc. will post -0.2 EPS for the current year.

About Cresco Labs

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.