Top 5 Marijuana Stocks to Buy in 2022

In this piece, we will take a look at the top five marijuana stocks to buy in 2022. For more details about the marijuana industry and additional stocks, head over to Top 10 Marijuana Stocks to Buy in 2022.

5. Cresco Labs Inc. (OTCMKTS:CRLBF)

Number of Hedge Fund Holders: 1

Stock Price as of Feb. 24, 2022: $6.7

Analyst Upside In %: 139%

Cresco Labs Inc. (OTCMKTS:CRLBF) is a cannabis product provider that serves customers in the United States. It offers its customers a wide variety of products derived from the cannabis plant. This list includes edibles, popcorns, shakes, oils, transdermal patches, and more. The company sells both retail and medical products and is headquartered in Chicago, Illinois.

Cresco Labs Inc. (OTCMKTS:CRLBF)’s shares closed at $6.7 on February 24, 2022. At the same time, the consensus price target estimate for the company’s shares was $16, which translates into a 139% upside.

For its fiscal Q3, Cresco Labs Inc. (OTCMKTS:CRLBF) reported $215 million in revenue and $56.45 in earnings before interest taxes and depreciation (EBITDA). While the revenue missed analyst estimates, it and the EBITDA grew by 40% and 26% annually, and the company reaffirmed its annual guidance at the event. Jefferies raised the company’s price target to CAD$36 in November 2021, outlining that the earnings results revealed impressive margins and that sales will pick up in the future. As of the fourth quarter of last year, out of the 924 hedge funds surveyed by Insider Monkey, one had owned the company’s shares.

A large Cresco Labs Inc. (OTCMKTS:CRLBF) investor is Frederick Disanto’s Ancora Advisors who owns 244,634 shares worth $1.6 million.