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

Cresco Labs (OTCMKTS:CRLBF) was downgraded by equities research analysts at Cormark from a “moderate buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports. Cormark also issued estimates for Cresco Labs’ FY2024 earnings at ($0.21) EPS and FY2025 earnings at $0.03 EPS.

A number of other brokerages have also recently issued reports on CRLBF. Ventum Cap Mkts raised shares of Cresco Labs to a “strong-buy” rating in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cresco Labs in a research note on Monday, August 12th. Finally, Roth Capital raised shares of Cresco Labs to a “strong-buy” rating in a research note on Sunday. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2.50.

Cresco Labs Price Performance

Shares of OTCMKTS:CRLBF opened at $1.44 on Monday. The company’s fifty day moving average price is $1.58 and its 200-day moving average price is $1.71. The firm has a market capitalization of $702.92 million, a price-to-earnings ratio of -7.20 and a beta of 1.88. Cresco Labs has a one year low of $1.02 and a one year high of $2.65. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.00 and a quick ratio of 1.30.

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.