Cresco Labs (OTCMKTS:CRLBF) Sets New 12-Month Low – Here’s What Happened

Cresco Labs Inc. (OTCMKTS:CRLBFGet Free Report) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $1.09 and last traded at $1.15, with a volume of 3057329 shares trading hands. The stock had previously closed at $1.52.

Wall Street Analysts Forecast Growth

CRLBF has been the topic of several research reports. Needham & Company LLC restated a “hold” rating on shares of Cresco Labs in a research note on Monday, August 12th. Roth Capital upgraded Cresco Labs from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Ventum Cap Mkts raised Cresco Labs to a “strong-buy” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Cresco Labs presently has an average rating of “Buy” and a consensus target price of $2.50.

View Our Latest Stock Report on Cresco Labs

Cresco Labs Stock Down 24.7 %

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 business has a fifty day simple moving average of $1.61 and a two-hundred day simple moving average of $1.73. The company has a market capitalization of $558.92 million, a price-to-earnings ratio of -2.25 and a beta of 1.88.

Cresco Labs (OTCMKTS:CRLBFGet Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.15). Cresco Labs had a negative net margin of 23.07% and a negative return on equity of 17.03%. The company had revenue of $184.36 million during the quarter, compared to analyst estimates of $184.26 million. Equities analysts expect that Cresco Labs Inc. will post -0.15 EPS for the current year.

About Cresco Labs

(Get Free Report)

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.

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