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

Cresco Labs Inc. (OTCMKTS:CRLBF) was the target of a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 503,000 shares, a decline of 32.9% from the September 30th total of 750,100 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 2,204,500 shares, the short-interest ratio is presently 0.2 days. Based on an average daily trading volume, of 2,204,500 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the company’s stock are short sold.

Cresco Labs Stock Up 6.1%

CRLBF stock opened at $1.21 on Monday. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.10 and a quick ratio of 2.22. Cresco Labs has a 1-year low of $0.43 and a 1-year high of $1.62. The firm has a fifty day moving average price of $1.25 and a two-hundred day moving average price of $0.88. The firm has a market cap of $430.68 million, a price-to-earnings ratio of -9.31 and a beta of 1.51.

Cresco Labs (OTCMKTS:CRLBF) last released its earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Cresco Labs had a negative net margin of 6.67% and a negative return on equity of 11.77%. The business had revenue of $163.62 million for the quarter, compared to the consensus estimate of $162.00 million. Research analysts predict that Cresco Labs will post -0.2 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Zacks Research lowered shares of Cresco Labs from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

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.