Needham analyst Matt McGinley assigned a Hold rating to Cresco Labs (CRLBF) today. The company’s shares closed last Thursday at $6.82.
According to TipRanks.com, McGinley is a 5-star analyst with an average return of 51.3% and a 80.0% success rate. McGinley covers the Basic Materials sector, focusing on stocks such as Green Thumb Industries, Curaleaf Holdings, and Trulieve Cannabis.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cresco Labs with a $8.55 average price target.
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Based on Cresco Labs’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $66.38 million and GAAP net loss of $7.39 million. In comparison, last year the company earned revenue of $21.06 million and had a GAAP net loss of $6.23 million.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is neutral on the stock.
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Cresco Labs Inc is a Canada based company engaged in the production and sale of cannabis. The company distribute its products to dispensaries nationwide, including several dispensaries owned and operated by its team. Its product includes Reserve, Remedi, Mindy’s. All the revenues of the company were generated in the United States. It has ownership interests in Illinois, Pennsylvania, Ohio, California, Maryland, and Arizona.
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