Cresco Labs (OTCMKTS:CRLBF) Shares Gap Up - What's Next?

Key Points

• Premarket gap up: Shares opened at $1.26 after a $1.18 close and were last at $1.24 on a volume of 818,069 shares.
• Analyst views mixed: Zacks upgraded Cresco from "strong sell" to "hold" on March 31, while MarketBeat shows a consensus rating of "Buy" (one Strong Buy, one Hold).
• Weak fundamentals: Market cap ~$550.7M, negative PE and net margin, and analysts expect about -$0.11 EPS for the current year, signaling continued losses.

Shares of Cresco Labs Inc. (OTCMKTS:CRLBF - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $1.18, but opened at $1.26. Cresco Labs shares last traded at $1.24, with a volume of 818,069 shares.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Cresco Labs from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Cresco Labs presently has a consensus rating of "Buy".

Cresco Labs Stock Down 7.2%

The firm has a market capitalization of $550.67 million, a PE ratio of -2.81 and a beta of 1.49. The company has a fifty day moving average price of $0.97 and a 200-day moving average price of $1.08. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.60 and a current ratio of 2.59.

Cresco Labs (OTCMKTS:CRLBF - Get Free Report) last issued its quarterly earnings data on Thursday, March 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). The business had revenue of $164.04 million for the quarter, compared to analysts' expectations of $160.87 million. Cresco Labs had a negative return on equity of 16.61% and a negative net margin of 20.65%. As a group, analysts expect that Cresco Labs Inc. will post -0.11 earnings per share 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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