Cresco Labs (OTCMKTS:CRLBF) Stock Price Down 1%

Cresco Labs Inc. (OTCMKTS:CRLBF)’s stock price dropped 1% during mid-day trading on Monday . The company traded as low as $1.92 and last traded at $1.98. Approximately 433,957 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 921,794 shares. The stock had previously closed at $2.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Roth Mkm increased their price target on Cresco Labs from $1.75 to $2.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Echelon Wealth Partners upgraded shares of Cresco Labs from a “hold” rating to a “buy” rating in a research report on Wednesday, March 13th.

Cresco Labs Stock Up 2.5 %

The firm has a 50 day moving average price of $1.94 and a 200-day moving average price of $1.77. The firm has a market cap of $711.98 million, a price-to-earnings ratio of -3.72 and a beta of 2.29. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 0.85.

Cresco Labs (OTCMKTS:CRLBF) last released its earnings results on Friday, March 15th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The company had revenue of $188.24 million for the quarter, compared to the consensus estimate of $181.36 million. Cresco Labs had a negative net margin of 22.77% and a negative return on equity of 10.51%. As a group, equities analysts predict that Cresco Labs Inc. will post -0.07 EPS 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.