Cresco Labs Inc. (OTCMKTS:CRLBF) Short Interest Up 87.2% in March

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

Cresco Labs Price Performance

OTCMKTS:CRLBF traded up $0.01 during mid-day trading on Friday, reaching $0.78. 417,695 shares of the stock were exchanged, compared to its average volume of 707,144. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 1.80. The business has a fifty day moving average price of $0.85 and a 200 day moving average price of $1.14. Cresco Labs has a 1-year low of $0.52 and a 1-year high of $2.60. The firm has a market capitalization of $380.65 million, a PE ratio of -3.90 and a beta of 1.79.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on CRLBF. Cormark raised Cresco Labs from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 17th. Atb Cap Markets cut shares of Cresco Labs from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $3.00.

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.