Cresco Labs Inc. (OTCMKTS:CRLBF – Get Free Report) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 1,183,700 shares, a drop of 5.8% from the September 15th total of 1,256,300 shares. Based on an average daily trading volume, of 564,000 shares, the days-to-cover ratio is presently 2.1 days.
Analyst Ratings Changes
Several research analysts have weighed in on CRLBF shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Cresco Labs in a research report on Monday, August 12th. Roth Capital raised Cresco Labs from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Ventum Cap Mkts raised Cresco Labs to a “strong-buy” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $2.50.
View Our Latest Stock Analysis on Cresco Labs
Cresco Labs Trading Up 1.8 %
Cresco Labs (OTCMKTS:CRLBF – Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.15). Cresco Labs had a negative net margin of 23.07% and a negative return on equity of 17.03%. The firm had revenue of $184.36 million during the quarter, compared to the consensus estimate of $184.26 million. As a group, equities analysts anticipate that Cresco Labs will post -0.15 earnings per share for the current fiscal 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.
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