Cresco Labs (OTCMKTS:CRLBF) Rating Lowered to “Hold” at Cormark

Cresco Labs (OTCMKTS:CRLBF) was downgraded by equities researchers at Cormark from a “moderate buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports. Cormark also issued estimates for Cresco Labs’ FY2024 earnings at ($0.21) EPS and FY2025 earnings at $0.03 EPS.

Several other equities research analysts have also recently issued reports on CRLBF. Roth Capital raised shares of Cresco Labs to a “strong-buy” rating in a research report on Sunday. Needham & Company LLC reaffirmed 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. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2.50.

Cresco Labs Stock Performance

Shares of CRLBF opened at $1.44 on Monday. Cresco Labs has a 1 year low of $1.02 and a 1 year high of $2.65. The stock has a market capitalization of $702.92 million, a PE ratio of -7.20 and a beta of 1.88. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.30 and a current ratio of 2.00. The stock has a 50-day simple moving average of $1.58 and a 200-day simple moving average of $1.71.

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.