Cormark Upgrades Cresco Labs (OTCMKTS:CRLBF) to Moderate Buy

Cresco Labs (OTCMKTS:CRLBF) was upgraded by equities researchers at Cormark from a “hold” rating to a “moderate buy” rating in a note issued to investors on Monday,Zacks.com reports.

Separately, Atb Cap Markets downgraded shares of Cresco Labs from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Cresco Labs currently has a consensus rating of “Buy” and an average target price of $3.00.

Cresco Labs Stock Performance

Shares of CRLBF stock opened at $0.71 on Monday. Cresco Labs has a one year low of $0.70 and a one year high of $2.60. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.39 and a current ratio of 1.97. The company has a 50 day moving average price of $0.88 and a 200 day moving average price of $1.19. The firm has a market capitalization of $344.14 million, a price-to-earnings ratio of -3.53 and a beta of 1.79.

Cresco Labs (OTCMKTS:CRLBF) last released its quarterly earnings data on Friday, March 14th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $176.00 million during the quarter, compared to analyst estimates of $172.10 million. Cresco Labs had a negative net margin of 9.15% and a negative return on equity of 16.52%. Sell-side analysts anticipate that Cresco Labs will post -0.2 EPS for the current 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.