Cresco Labs Inc. (OTCMKTS:CRLBF) Sees Significant Drop in Short Interest


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Cresco Labs Inc. (OTCMKTS:CRLBF) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 653,500 shares, a decline of 19.2% from the March 31st total of 809,200 shares. Based on an average daily trading volume, of 1,055,100 shares, the short-interest ratio is currently 0.6 days.

CRLBF stock traded up $0.50 during trading on Tuesday, hitting $13.50. The company had a trading volume of 1,024,006 shares, compared to its average volume of 1,313,671. The company has a fifty day moving average price of $12.63 and a two-hundred day moving average price of $11.59. Cresco Labs has a fifty-two week low of $3.24 and a fifty-two week high of $17.49.

Several brokerages have commented on CRLBF. Canaccord Genuity lifted their price target on Cresco Labs from $16.00 to $20.50 and gave the stock a “buy” rating in a research report on Wednesday, January 13th. Alliance Global Partners began coverage on Cresco Labs in a research report on Thursday, February 18th. They issued a “buy” rating and a $25.00 price target on the stock. Cantor Fitzgerald boosted their price objective on Cresco Labs from $18.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 20th. Haywood Securities boosted their price objective on Cresco Labs to $24.00 and gave the company a “na” rating in a research report on Monday, January 18th. Finally, BTIG Research began coverage on Cresco Labs in a research report on Monday, March 8th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $19.21.

About Cresco Labs

Cresco Labs Inc, together with its subsidiaries, cultivates, manufactures, and sells medical cannabis and medical cannabis products in the United States. It offers cannabis in flowers, live concentrates, and liquid live resins under the Cresco and Reserve brands; soft gels, tinctures, and lotions under the Remedi brand; gummies, fruit chews, hard sweets, and chocolates under the Mindy's brand; and vape pens, popcorn, shake, pre-rolls, and shorties under High supply brand.

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