Cresco Labs Inc. (OTCMKTS:CRLBF) Short Interest Up 87.2% in March

Cresco Labs Inc. (OTCMKTS:CRLBF) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 882,800 shares, an increase of 87.2% from the February 28th total of 471,500 shares. Based on an average trading volume of 1,754,500 shares, the short-interest ratio is presently 0.5 days. Approximately 0.2% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CRLBF. Atb Cap Markets downgraded shares of Cresco Labs from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. Cormark raised shares of Cresco Labs from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Cresco Labs presently has a consensus rating of “Buy” and an average price target of $3.00.

Cresco Labs Stock Up 1.3 %

Shares of OTCMKTS CRLBF traded up $0.01 during mid-day trading on Friday, reaching $0.78. The company had a trading volume of 417,695 shares, compared to its average volume of 707,144. The stock has a fifty day moving average of $0.85 and a two-hundred day moving average of $1.14. Cresco Labs has a 12-month low of $0.52 and a 12-month high of $2.60. The company has a market capitalization of $380.65 million, a price-to-earnings ratio of -3.90 and a beta of 1.79. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.39 and a current ratio of 1.97.

Cresco Labs (OTCMKTS:CRLBF) last released its earnings results on Friday, March 14th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). Cresco Labs had a negative net margin of 9.15% and a negative return on equity of 16.52%. The company had revenue of $176.00 million during the quarter, compared to the consensus estimate of $172.10 million. As a group, equities research analysts expect that Cresco Labs will post -0.2 EPS for the current year.

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.