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

Cresco Labs Inc. (OTCMKTS:CRLBF) was the target of a large increase in short interest in 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. Based on an average daily trading volume, of 1,754,500 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.2% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CRLBF. Cormark upgraded Cresco Labs from a “hold” rating to a “moderate buy” rating in a report on Monday, March 17th. Atb Cap Markets lowered shares of Cresco Labs from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $3.00.

Cresco Labs Price Performance

CRLBF stock opened at $0.78 on Friday. The company has a market capitalization of $380.65 million, a PE ratio of -3.90 and a beta of 1.79. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 1.80. The stock’s 50 day moving average is $0.85 and its two-hundred day moving average is $1.14. Cresco Labs has a 52-week low of $0.52 and a 52-week high of $2.60.

Cresco Labs (OTCMKTS:CRLBF) last issued its quarterly earnings results on Friday, March 14th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $176.00 million for the quarter, compared to analysts’ expectations of $172.10 million. Cresco Labs had a negative net margin of 9.15% and a negative return on equity of 16.52%. Analysts predict that Cresco Labs will post -0.2 earnings per share for the current fiscal year.

About Cresco Labs

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.