Cresco Labs (OTCMKTS:CRLBF) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Cresco Labs from a "strong sell" to a "hold" and ATB Cormark raised it to "outperform," while the MarketBeat consensus rating remains a "Buy", signalling mixed but improving analyst sentiment.
• The stock jumped about 5.6%, opening at $0.92 with a market cap near $462 million and trading below its 50- and 200-day averages of $1.00 and $1.10 respectively (12‑month range $0.43–$2.30).
• Cresco reported Q results with EPS of ($0.02) that met estimates and revenue of $164.0 million that beat expectations, but the company remains unprofitable with negative ROE and net margin and analysts forecast about (‑0.2) EPS for the year.

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

Separately, ATB Cormark Capital Markets raised Cresco Labs to an "outperform" rating in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Cresco Labs has a consensus rating of "Buy".

Cresco Labs Stock Up 5.6%

Shares of OTCMKTS:CRLBF opened at $0.92 on Tuesday. The stock has a market capitalization of $462.03 million, a P/E ratio of -2.36 and a beta of 1.47. The stock's 50-day moving average price is $1.00 and its 200-day moving average price is $1.10. The company has a current ratio of 2.59, a quick ratio of 1.60 and a debt-to-equity ratio of 1.72. Cresco Labs has a 12-month low of $0.43 and a 12-month high of $2.30.

Cresco Labs (OTCMKTS:CRLBF - Get Free Report) last issued its earnings results on Thursday, March 5th. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). Cresco Labs had a negative return on equity of 16.61% and a negative net margin of 20.65%.The company had revenue of $164.04 million during the quarter, compared to analysts' expectations of $160.87 million. On average, equities analysts anticipate that Cresco Labs will post -0.2 earnings per share for the current year.

About Cresco Labs

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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