Short Interest in Cresco Labs Inc. (OTCMKTS:CRLBF) Grows By 87.2%

Cresco Labs Inc. (OTCMKTS:CRLBF) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 882,800 shares, an increase of 87.2% from the February 28th total of 471,500 shares. Based on an average daily volume of 1,754,500 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.2% of the company’s stock are short sold.

Cresco Labs Price Performance

Shares of OTCMKTS:CRLBF opened at $0.78 on Monday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.39 and a current ratio of 1.97. The firm has a market cap of $380.65 million, a price-to-earnings ratio of -3.90 and a beta of 1.79. The business has a 50-day simple moving average of $0.85 and a two-hundred day simple moving average of $1.13. Cresco Labs has a fifty-two week low of $0.52 and a fifty-two week high of $2.60.

Cresco Labs (OTCMKTS:CRLBF) last released its quarterly earnings data on Friday, March 14th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). Cresco Labs had a negative net margin of 9.15% and a negative return on equity of 16.52%. The firm had revenue of $176.00 million during the quarter, compared to analysts’ expectations of $172.10 million. On average, analysts expect that Cresco Labs will post -0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

CRLBF has been the topic of a number of recent analyst reports. Atb Cap Markets cut shares of Cresco Labs from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Cormark raised Cresco Labs from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 17th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $3.00.

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.