Cresco Labs Inc. (OTCMKTS:CRLBF) Short Interest Down 5.8% in September

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

Cresco Labs Stock Down 4.0 %

Shares of OTCMKTS CRLBF traded down $0.06 during trading hours on Wednesday, hitting $1.58. 484,591 shares of the stock were exchanged, compared to its average volume of 736,318. Cresco Labs has a 12 month low of $1.06 and a 12 month high of $2.65. 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 company has a market cap of $768.82 million, a PE ratio of -3.35 and a beta of 1.86. The firm has a fifty day moving average price of $1.67 and a 200-day moving average price of $1.79.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CRLBF. Needham & Company LLC restated a “hold” rating on shares of Cresco Labs in a research note on Monday, August 12th. Roth Capital upgraded Cresco Labs from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Ventum Cap Mkts raised Cresco Labs to a “strong-buy” rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target 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.