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

Cresco Labs Inc. (OTCMKTS:CRLBF) was the target of a large growth in short interest in September. As of September 30th, there was short interest totaling 750,100 shares, a growth of 41.9% from the September 15th total of 528,600 shares. Based on an average daily trading volume, of 1,965,600 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily trading volume, of 1,965,600 shares, the days-to-cover ratio is presently 0.4 days.

Cresco Labs Stock Performance

CRLBF opened at $1.22 on Friday. The company has a market capitalization of $434.23 million, a price-to-earnings ratio of -9.38 and a beta of 1.52. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.10 and a quick ratio of 2.22. Cresco Labs has a 1-year low of $0.43 and a 1-year high of $1.65. The business has a 50 day moving average price of $1.24 and a two-hundred day moving average price of $0.85.

Cresco Labs (OTCMKTS:CRLBF) last released its earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The firm had revenue of $163.62 million during the quarter, compared to analyst estimates of $162.00 million. Cresco Labs had a negative return on equity of 11.77% and a negative net margin of 6.67%. Research analysts predict that Cresco Labs will post -0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Zacks Research lowered Cresco Labs from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.

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.