Cresco Labs Inc. (OTCMKTS:CRLBF) Short Interest Down 5.8% in September

Cresco Labs Inc. (OTCMKTS:CRLBF) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 1,183,700 shares, a decrease of 5.8% from the September 15th total of 1,256,300 shares. Based on an average daily volume of 564,000 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analysts Forecast Growth

CRLBF has been the topic of several analyst reports. Needham & Company LLC restated a “hold” rating on shares of Cresco Labs in a research note on Monday, August 12th. Ventum Cap Mkts raised Cresco Labs to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Roth Capital raised Cresco Labs from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cresco Labs has a consensus rating of “Buy” and a consensus price target of $2.50.

Cresco Labs Stock Performance

OTCMKTS:CRLBF opened at $1.57 on Thursday. The firm has a market capitalization of $766.38 million, a price-to-earnings ratio of -3.34 and a beta of 1.86. The business’s 50-day moving average price is $1.68 and its two-hundred day moving average price is $1.79. The company has a current ratio of 2.00, a quick ratio of 1.30 and a debt-to-equity ratio of 1.76. Cresco Labs has a 1-year low of $1.06 and a 1-year high of $2.65.

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

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.