Cresco Labs (OTCMKTS:CRLBF) Reaches New 1-Year Low – Should You Sell?

Cresco Labs Inc. (OTCMKTS:CRLBF)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $1.09 and last traded at $1.15, with a volume of 3057329 shares trading hands. The stock had previously closed at $1.52.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Roth Capital raised shares of Cresco Labs from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of Cresco Labs in a research report on Monday, August 12th. Finally, Ventum Cap Mkts raised Cresco Labs to a “strong-buy” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Cresco Labs currently has a consensus rating of “Buy” and an average price target of $2.50.

Cresco Labs Stock Down 24.7 %

The company has a quick ratio of 1.30, a current ratio of 2.00 and a debt-to-equity ratio of 1.76. The business has a 50-day simple moving average of $1.61 and a 200-day simple moving average of $1.73. The stock has a market cap of $558.92 million, a P/E ratio of -2.25 and a beta of 1.88.

Cresco Labs (OTCMKTS:CRLBF) last released its earnings results 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). The firm had revenue of $184.36 million for the quarter, compared to analyst estimates of $184.26 million. Cresco Labs had a negative return on equity of 17.03% and a negative net margin of 23.07%. Analysts expect that Cresco Labs Inc. will post -0.15 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.