Cresco Labs (OTCMKTS:CRLBF) Stock Price Down 1.2% - Here's Why

Cresco Labs Inc. (OTCMKTS:CRLBF - Get Free Report) was down 1.2% during trading on Friday . The stock traded as low as $0.49 and last traded at $0.50. Approximately 268,752 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 604,768 shares. The stock had previously closed at $0.51.

Analyst Ratings Changes

A number of research firms recently commented on CRLBF. Cormark upgraded Cresco Labs from a "hold" rating to a "moderate buy" rating in a report on Monday, March 17th. Canaccord Genuity Group downgraded shares of Cresco Labs from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy".

Cresco Labs Trading Up 2.2%

The company has a fifty day simple moving average of $0.65 and a two-hundred day simple moving average of $0.76. The company has a market capitalization of $257.79 million, a P/E ratio of -2.19 and a beta of 1.40. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.75 and a quick ratio of 1.98.

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