Cresco Labs Inc. (OTCMKTS:CRLBF) Sees Significant Increase in Short Interest

Cresco Labs Inc. (OTCMKTS:CRLBF) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 1,447,200 shares, an increase of 15.4% from the August 15th total of 1,254,400 shares. Based on an average trading volume of 1,565,500 shares, the short-interest ratio is presently 0.9 days.

Analyst Ratings Changes

Several research firms have recently commented on CRLBF. Alliance Global Partners lowered their price objective on shares of Cresco Labs from C$5.00 to C$4.00 in a research note on Wednesday, August 16th. Stifel Nicolaus lowered their price objective on shares of Cresco Labs from C$2.00 to C$1.50 in a research note on Thursday, August 17th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Cresco Labs presently has an average rating of “Hold” and an average target price of $5.35.

Cresco Labs Stock Performance

Shares of OTCMKTS:CRLBF traded up $0.01 on Monday, hitting $2.46. 2,013,300 shares of the company were exchanged, compared to its average volume of 1,244,711. Cresco Labs has a 1-year low of $1.00 and a 1-year high of $4.20. The stock’s 50 day moving average price is $1.62 and its 200 day moving average price is $1.62. The company has a current ratio of 1.12, a quick ratio of 0.61 and a debt-to-equity ratio of 1.14.

Cresco Labs (OTCMKTS:CRLBF) last posted its earnings results on Wednesday, August 16th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The business had revenue of $197.89 million for the quarter, compared to analyst estimates of $194.60 million. Cresco Labs had a negative net margin of 29.14% and a negative return on equity of 9.52%. Equities analysts expect that Cresco Labs will post -0.21 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.