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

Cresco Labs Inc. (OTCMKTS:CRLBF) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 805,300 shares, a growth of 5.7% from the November 15th total of 762,000 shares. Based on an average daily volume of 1,541,300 shares, the days-to-cover ratio is currently 0.5 days.

Cresco Labs Price Performance

CRLBF stock opened at $1.00 on Monday. Cresco Labs has a 1 year low of $0.96 and a 1 year high of $2.65. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.97 and a quick ratio of 1.39. The stock has a market cap of $488.14 million, a price-to-earnings ratio of -5.00 and a beta of 1.73. The company has a 50 day simple moving average of $1.35 and a 200 day simple moving average of $1.56.

Analyst Ratings Changes

Several equities research analysts have issued reports on CRLBF shares. Cormark downgraded shares of Cresco Labs from a “moderate buy” rating to a “hold” rating in a research report on Monday, November 11th. Atb Cap Markets downgraded Cresco Labs from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Finally, Roth Capital upgraded Cresco Labs to a “strong-buy” rating in a research report on Sunday, November 10th. Four investment 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate 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.