Cresco Labs Inc. (OTCMKTS:CRLBF) Sees Large Decline in Short Interest

Cresco Labs Inc. (OTCMKTS:CRLBF - Get Free Report) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 732,600 shares, a drop of 38.1% from the September 30th total of 1,183,700 shares. Based on an average daily volume of 969,600 shares, the days-to-cover ratio is currently 0.8 days.

Cresco Labs Trading Down 0.3 %

Shares of CRLBF stock traded down $0.01 on Friday, reaching $1.63. 582,762 shares of the company's stock were exchanged, compared to its average volume of 731,452. Cresco Labs has a 52 week low of $1.06 and a 52 week high of $2.65. The company has a current ratio of 2.00, a quick ratio of 1.30 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $795.67 million, a PE ratio of -3.47 and a beta of 1.86. The company's fifty day simple moving average is $1.65 and its 200 day simple moving average is $1.76.

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

Wall Street Analyst Weigh In

CRLBF has been the topic of several recent analyst reports. Ventum Cap Mkts raised Cresco Labs to a "strong-buy" rating in a research note on Friday, August 9th. Roth Capital upgraded Cresco Labs from a "hold" rating to a "strong-buy" rating in a report on Friday, August 9th. Finally, Needham & Company LLC restated a "hold" rating on shares of Cresco Labs in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Cresco Labs has an average rating of "Buy" and an average 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.