Cresco Labs (OTCMKTS:CRLBF) Trading 1.5% Higher - Should You Buy?

Cresco Labs Inc. (OTCMKTS:CRLBF - Get Free Report)'s share price traded up 1.5% on Tuesday . The stock traded as high as $0.64 and last traded at $0.62. 1,386,150 shares traded hands during mid-day trading, an increase of 119% from the average session volume of 632,779 shares. The stock had previously closed at $0.62.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lowered Cresco Labs from a "strong-buy" rating to a "moderate buy" rating in a research note on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Cresco Labs has an average rating of "Buy".

Cresco Labs Trading Up 8.0%

The company has a quick ratio of 1.98, a current ratio of 2.75 and a debt-to-equity ratio of 1.63. The firm has a market cap of $335.66 million, a price-to-earnings ratio of -2.85 and a beta of 1.40. The business has a 50 day moving average of $0.57 and a 200 day moving average of $0.72.

Cresco Labs (OTCMKTS:CRLBF - Get Free Report) last released its earnings results on Friday, May 30th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Cresco Labs had a negative return on equity of 21.77% and a negative net margin of 11.86%. The business had revenue of $165.76 million for the quarter, compared to analysts' expectations of $164.37 million. On average, research analysts forecast that Cresco Labs Inc. will post -0.2 earnings per share for the current fiscal year.

Cresco Labs Company Profile

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.