Cresco Labs Inc. (OTCMKTS:CRLBF) Receives Consensus Recommendation of “Buy” from Analysts

Cresco Labs Inc. (OTCMKTS:CRLBF) has been assigned an average rating of “Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $2.50.

Several research firms have recently weighed in on CRLBF. Roth Capital upgraded Cresco Labs from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of Cresco Labs in a research report on Monday, August 12th. Finally, Ventum Cap Mkts upgraded Cresco Labs to a “strong-buy” rating in a report on Friday, August 9th.

Cresco Labs Stock Down 2.0 %

OTCMKTS CRLBF opened at $1.50 on Thursday. Cresco Labs has a 52 week low of $1.06 and a 52 week high of $2.65. The firm has a market capitalization of $732.21 million, a price-to-earnings ratio of -3.19 and a beta of 1.86. The company has a fifty day moving average of $1.64 and a two-hundred day moving average of $1.75. The company has a quick ratio of 1.30, a current ratio of 2.00 and a debt-to-equity ratio of 1.76.

Cresco Labs (OTCMKTS:CRLBF) last released its earnings results on Thursday, August 8th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.15). Cresco Labs had a negative return on equity of 17.03% and a negative net margin of 23.07%. The business had revenue of $184.36 million for the quarter, compared to the consensus estimate of $184.26 million. On average, analysts predict that Cresco Labs will post -0.15 earnings per share for the current 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.