Shares of Cresco Labs Inc. (OTCMKTS:CRLBF – Get Free Report) traded up 4.5% during trading on Thursday . The stock traded as high as $1.67 and last traded at $1.62. 229,203 shares were traded during mid-day trading, a decline of 56% from the average session volume of 524,377 shares. The stock had previously closed at $1.55.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Echelon Wealth Partners raised shares of Cresco Labs from a “hold” rating to a “buy” rating in a research note on Wednesday, March 13th. Wedbush lifted their target price 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. Roth Mkm lifted their target price on shares of Cresco Labs from $1.75 to $2.00 and gave the stock a “neutral” rating in a research note on Thursday, March 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cresco Labs in a research note on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Cresco Labs presently has a consensus rating of “Moderate Buy” and an average target price of $2.63.
Read Our Latest Stock Report on CRLBF
Cresco Labs Price Performance
Cresco Labs (OTCMKTS:CRLBF – Get Free Report) last announced its quarterly earnings data on Wednesday, May 15th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). Cresco Labs had a negative net margin of 20.32% and a negative return on equity of 6.78%. The company had revenue of $184.30 million during the quarter, compared to analysts’ expectations of $183.31 million. On average, sell-side analysts forecast that Cresco Labs Inc. will post -0.05 earnings per share 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.
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