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

Cresco Labs Inc. (OTCMKTS:CRLBF) saw a large increase in short interest during the month of April. As of April 30th, there was short interest totaling 771,652 shares, an increase of 8,781.8% from the April 15th total of 8,688 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 2,892,844 shares, the short-interest ratio is currently 0.3 days.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Cresco Labs from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Cresco Labs Price Performance

OTCMKTS CRLBF opened at $0.95 on Wednesday. Cresco Labs has a 12 month low of $0.43 and a 12 month high of $2.30. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.51 and a quick ratio of 1.60. The firm has a market capitalization of $477.62 million, a PE ratio of -2.44 and a beta of 1.59. The company’s 50 day simple moving average is $0.98 and its 200 day simple moving average is $1.05.

Cresco Labs (OTCMKTS:CRLBF) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The company had revenue of $151.33 million for the quarter, compared to analyst estimates of $148.58 million. Cresco Labs had a negative net margin of 20.90% and a negative return on equity of 17.98%. As a group, equities research analysts forecast that Cresco Labs will post -0.08 EPS for the current fiscal year.

About Cresco Labs

Cresco Labs is a vertically integrated, multi-state cannabis operator in the United States. The company engages in the cultivation, manufacturing and distribution of a broad range of cannabis products, including flower, pre-rolled joints, concentrates, vaporizers, edibles and tinctures. Cresco Labs’ operations span cultivation facilities, processing laboratories and a network of wholesale distribution centers that supply licensed dispensaries and retail outlets across key cannabis markets.

The company’s product portfolio is organized under several branded platforms, such as MÜV, Reserve and High Supply, each designed to address different segments of the adult-use and medical cannabis markets.