Cresco Labs (OTCMKTS:CRLBF) Earns “Hold” Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Cresco Labs (OTCMKTS:CRLBF) in a research report sent to investors on Monday, Benzinga reports.

A number of other research analysts have also recently weighed in on the stock. Wedbush raised their price objective on shares of Cresco Labs from $2.50 to $3.00 and gave the stock an outperform rating in a research note on Thursday, May 16th. Ventum Cap Mkts raised shares of Cresco Labs to a strong-buy rating in a research note on Friday, August 9th. Finally, Roth Capital raised shares of Cresco Labs from a hold rating to a strong-buy rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Cresco Labs currently has an average rating of Buy and a consensus target price of $2.63.

Cresco Labs Trading Down 0.5 %

Shares of CRLBF opened at $1.91 on Monday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.36 and a quick ratio of 0.89. The firm has a 50 day simple moving average of $1.65 and a 200-day simple moving average of $1.88. Cresco Labs has a 1-year low of $1.01 and a 1-year high of $2.77. The stock has a market cap of $932.35 million, a price-to-earnings ratio of -4.06 and a beta of 1.86.

Cresco Labs (OTCMKTS:CRLBF) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.15). Cresco Labs had a negative return on equity of 6.78% and a negative net margin of 20.32%. The business had revenue of $184.36 million for the quarter, compared to analysts’ expectations of $184.26 million. Equities analysts forecast that Cresco Labs will post -0.03 EPS for the current fiscal year.

Cresco Labs Company Profile

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.