Cresco Labs (OTCMKTS:CRLBF) Shares Gap Up - Time to Buy?

Key Points

• Cresco Labs shares gapped up Tuesday, opening at $1.13 after a $1.02 close and last trading around $1.036 with about 70,809 shares changing hands.
• Zacks upgraded the stock from "strong sell" to "hold" while MarketBeat shows a consensus rating of "Buy" (one Strong Buy, one Hold), indicating mixed but slightly positive analyst sentiment.
• Fundamentals remain weak: the company reported ($0.02) EPS (in line with estimates) and $164.0M revenue, but has a negative net margin and ROE and analysts expect -$0.08 EPS for the year.

Cresco Labs Inc. (OTCMKTS:CRLBF - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $1.02, but opened at $1.13. Cresco Labs shares last traded at $1.0361, with a volume of 70,809 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Cresco Labs from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy".

Cresco Labs Trading Up 2.9%

The firm has a market capitalization of $527.89 million, a P/E ratio of -2.69 and a beta of 1.59. The company has a quick ratio of 1.60, a current ratio of 2.59 and a debt-to-equity ratio of 1.72. The firm's 50-day simple moving average is $0.97 and its 200-day simple moving average is $1.06.

Cresco Labs (OTCMKTS:CRLBF - Get Free Report) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The firm had revenue of $164.04 million for the quarter, compared to the consensus estimate of $160.87 million. Cresco Labs had a negative net margin of 20.65% and a negative return on equity of 16.61%. Analysts anticipate that Cresco Labs Inc. will post -0.08 EPS for the current year.

Cresco Labs Company Profile

Cresco Labs is a vertically integrated, multi-state cannabis operator in the United States. The company engages in the cultivation, manufacturing and distribution of a broad range of cannabis products, including flower, pre-rolled joints, concentrates, vaporizers, edibles and tinctures. Cresco Labs' operations span cultivation facilities, processing laboratories and a network of wholesale distribution centers that supply licensed dispensaries and retail outlets across key cannabis markets.

The company's product portfolio is organized under several branded platforms, such as MÜV, Reserve and High Supply, each designed to address different segments of the adult-use and medical cannabis markets.

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