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

Cresco Labs Inc. (OTCMKTS:CRLBF - Get Free Report) was the target of a large increase in short interest during the month of 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. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 1,754,500 shares, the short-interest ratio is presently 0.5 days.

Cresco Labs Stock Down 5.3 %

Shares of OTCMKTS:CRLBF traded down $0.04 on Wednesday, hitting $0.67. 250,540 shares of the company's stock were exchanged, compared to its average volume of 691,030. Cresco Labs has a 1-year low of $0.52 and a 1-year high of $2.60. The company has a market capitalization of $324.61 million, a PE ratio of -3.33 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. The firm's 50-day moving average is $0.84 and its 200 day moving average is $1.12.

Cresco Labs (OTCMKTS:CRLBF - Get Free Report) last announced its quarterly earnings results on Friday, March 14th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.01). The firm had revenue of $176.00 million during the quarter, compared to the consensus estimate of $172.10 million. Cresco Labs had a negative return on equity of 16.52% and a negative net margin of 9.15%. Sell-side analysts predict that Cresco Labs will post -0.2 EPS for the current year.

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Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CRLBF. Atb Cap Markets cut Cresco Labs from a "strong-buy" rating to a "hold" rating in a report on Monday, December 9th. Cormark raised shares of Cresco Labs from a "hold" rating to a "moderate buy" rating in a research report on Monday, March 17th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $3.00.

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.