Short Interest in Cresco Labs Inc. (OTCMKTS:CRLBF) Decreases By 5.5%

Cresco Labs Inc. (OTCMKTS:CRLBF) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 1,744,300 shares, a decrease of 5.5% from the August 15th total of 1,846,200 shares. Based on an average trading volume of 1,088,800 shares, the short-interest ratio is currently 1.6 days.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Cresco Labs in a report on Monday, August 12th. Ventum Cap Mkts upgraded shares of Cresco Labs to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Roth Capital upgraded shares of Cresco Labs from a “hold” rating to a “strong-buy” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $2.50.

Cresco Labs Stock Performance

Shares of CRLBF stock opened at $1.64 on Thursday. The firm has a 50 day moving average of $1.67 and a 200-day moving average of $1.82. The company has a market cap of $800.55 million, a price-to-earnings ratio of -3.49 and a beta of 1.85. The company has a quick ratio of 1.30, a current ratio of 2.00 and a debt-to-equity ratio of 1.76. Cresco Labs has a 52 week low of $1.06 and a 52 week high of $2.65.

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