Cresco Labs (OTCMKTS:CRLBF) Upgraded by Roth Capital to Strong-Buy Rating

Cresco Labs (OTCMKTS:CRLBF) was upgraded by investment analysts at Roth Capital to a “strong-buy” rating in a research note issued to investors on Sunday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on CRLBF. Ventum Cap Mkts raised Cresco Labs to a “strong-buy” rating in a research note on Friday, August 9th. Needham & Company LLC restated a “hold” rating on shares of Cresco Labs in a report on Monday, August 12th. Two 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 stock. According to data from MarketBeat, Cresco Labs has a consensus rating of “Buy” and an average price target of $2.50.

Cresco Labs Price Performance

OTCMKTS CRLBF opened at $1.04 on Friday. Cresco Labs has a 12 month low of $1.02 and a 12 month high of $2.65. The firm has a market capitalization of $507.67 million, a PE ratio of -5.20 and a beta of 1.88. The company’s 50 day simple moving average is $1.60 and its 200 day simple moving average is $1.72. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.00 and a quick ratio of 1.30.

Cresco Labs (OTCMKTS:CRLBF) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Cresco Labs had a negative net margin of 23.07% and a negative return on equity of 17.03%. The business had revenue of $179.78 million during the quarter, compared to analyst estimates of $185.23 million. As a group, equities research analysts forecast that Cresco Labs will post -0.15 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.