Cresco Labs (OTCMKTS:CRLBF) Downgraded by Cormark to Hold

Cormark downgraded shares of Cresco Labs (OTCMKTS:CRLBF) from a moderate buy rating to a hold rating in a research report released 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 analysts have also recently weighed in on CRLBF. Needham & Company LLC restated a “hold” rating on shares of Cresco Labs in a report on Monday, August 12th. Roth Capital raised Cresco Labs to a “strong-buy” rating in a research report on Sunday, November 10th. Finally, Ventum Cap Mkts raised Cresco Labs to a “strong-buy” rating in a report on Friday, August 9th. Three 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $2.50.

Cresco Labs Stock Down 2.8 %

Cresco Labs stock opened at $1.40 on Monday. The company has a current ratio of 2.00, a quick ratio of 1.30 and a debt-to-equity ratio of 1.76. Cresco Labs has a 1-year low of $1.02 and a 1-year high of $2.65. The company has a fifty day simple moving average of $1.58 and a 200 day simple moving average of $1.70. The company has a market cap of $683.40 million, a P/E ratio of -7.20 and a beta of 1.88.

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.