Cresco Labs Inc. (OTCMKTS:CRLBF) Short Interest Update

Cresco Labs Inc. (OTCMKTS:CRLBF) was the target of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 1,183,700 shares, a decline of 5.8% from the September 15th total of 1,256,300 shares. Based on an average trading volume of 564,000 shares, the days-to-cover ratio is presently 2.1 days.

Cresco Labs Price Performance

Shares of Cresco Labs stock opened at $1.57 on Thursday. The company has a quick ratio of 1.30, a current ratio of 2.00 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $766.38 million, a price-to-earnings ratio of -3.34 and a beta of 1.86. Cresco Labs has a twelve month low of $1.06 and a twelve month high of $2.65. The company has a 50-day simple moving average of $1.68 and a two-hundred day simple moving average of $1.79.

Cresco Labs (OTCMKTS:CRLBF) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.15). Cresco Labs had a negative return on equity of 17.03% and a negative net margin of 23.07%. The company had revenue of $184.36 million during the quarter, compared to the consensus estimate of $184.26 million. Analysts forecast that Cresco Labs will post -0.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CRLBF shares. Needham & Company LLC reiterated a “hold” rating on shares of Cresco Labs in a report on Monday, August 12th. Roth Capital upgraded shares of Cresco Labs from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Ventum Cap Mkts raised shares of Cresco Labs to a “strong-buy” rating in a report on Friday, August 9th. Two 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $2.50.

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.