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

Cresco Labs Inc. (OTCMKTS:CRLBF) has earned a consensus rating of “Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $2.50.

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

Cresco Labs Stock Up 0.6 %

Shares of OTCMKTS:CRLBF opened at $1.71 on Thursday. Cresco Labs has a fifty-two week low of $1.06 and a fifty-two week high of $2.65. The company has a quick ratio of 1.30, a current ratio of 2.00 and a debt-to-equity ratio of 1.76. The firm’s 50-day simple moving average is $1.67 and its 200-day simple moving average is $1.77. The company has a market cap of $834.72 million, a price-to-earnings ratio of -3.64 and a beta of 1.86.

Cresco Labs (OTCMKTS:CRLBF) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.15). The business had revenue of $184.36 million during the quarter, compared to analysts’ expectations of $184.26 million. Cresco Labs had a negative net margin of 23.07% and a negative return on equity of 17.03%. As a group, equities research analysts predict that Cresco Labs will post -0.15 earnings per share for the current 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.