Cresco Labs (OTCMKTS:CRLBF) Downgraded to Hold Rating by Cormark

Cormark cut shares of Cresco Labs (OTCMKTS:CRLBF) from a moderate buy rating to a hold rating in a report released on Monday morning,Zacks.com reports. Cormark also issued estimates for Cresco Labs’ FY2024 earnings at ($0.21) EPS and FY2025 earnings at $0.03 EPS.

Several other equities analysts have also recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Cresco Labs in a research report on Monday, August 12th. Roth Capital raised Cresco Labs to a “strong-buy” rating in a research note on Sunday, November 10th. Finally, Ventum Cap Mkts upgraded shares of Cresco Labs to a “strong-buy” rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $2.50.

Cresco Labs Stock Down 2.8 %

Shares of OTCMKTS CRLBF opened at $1.40 on Monday. The stock has a market capitalization of $683.40 million, a P/E ratio of -7.20 and a beta of 1.88. The stock’s fifty day moving average is $1.58 and its 200 day moving average is $1.70. Cresco Labs has a 52 week low of $1.02 and a 52 week high of $2.65. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.30 and a current ratio of 2.00.

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.