Cresco Labs Inc. (OTCMKTS:CRLBF) Short Interest Down 5.5% in August

Cresco Labs Inc. (OTCMKTS:CRLBF) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 1,744,300 shares, a decrease of 5.5% from the August 15th total of 1,846,200 shares. Based on an average trading volume of 1,088,800 shares, the days-to-cover ratio is currently 1.6 days.

Analyst Ratings Changes

CRLBF has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Cresco Labs in a report on Monday, August 12th. Roth Capital raised shares of Cresco Labs from a “hold” rating to a “strong-buy” rating in a report on Friday, August 9th. Finally, Ventum Cap Mkts raised shares of Cresco Labs to a “strong-buy” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $2.50.

Cresco Labs Price Performance

Shares of CRLBF opened at $1.67 on Wednesday. The company has a market capitalization of $815.19 million, a price-to-earnings ratio of -3.55 and a beta of 1.85. Cresco Labs has a fifty-two week low of $1.06 and a fifty-two week high of $2.65. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.00 and a quick ratio of 1.30. The business’s 50-day moving average is $1.67 and its 200-day moving average is $1.83.

Cresco Labs (OTCMKTS:CRLBF) last issued its earnings results on Thursday, August 8th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.15). The business had revenue of $184.36 million during the quarter, compared to analyst estimates of $184.26 million. Cresco Labs had a negative net margin of 23.07% and a negative return on equity of 17.03%. Equities research analysts expect that Cresco Labs will post -0.15 EPS for the current fiscal 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.