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

Needham & Company LLC reiterated their hold rating on shares of Cresco Labs (OTCMKTS:CRLBF) in a research note released on Monday, Benzinga reports.

Several other research firms have also commented on CRLBF. Roth Capital upgraded Cresco Labs from a hold rating to a strong-buy rating in a research note on Friday, August 9th. Ventum Cap Mkts upgraded Cresco Labs to a strong-buy rating in a research note on Friday, August 9th. Finally, Wedbush boosted their price objective on Cresco Labs from $2.50 to $3.00 and gave the stock an outperform rating in a research note on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $2.63.

Cresco Labs Price Performance

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

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