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

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

Analyst Ratings Changes

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

Cresco Labs Stock Down 2.2%

Shares of Cresco Labs stock traded down $0.02 during trading hours on Monday, reaching $1.01. 1,309,412 shares of the company were exchanged, compared to its average volume of 944,202. Cresco Labs has a 1 year low of $0.43 and a 1 year high of $2.30. The stock’s fifty day moving average is $0.98 and its 200 day moving average is $1.06. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.60 and a current ratio of 2.59. The firm has a market cap of $506.27 million, a PE ratio of -2.58 and a beta of 1.59.

Cresco Labs (OTCMKTS:CRLBF) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). Cresco Labs had a negative return on equity of 16.93% and a negative net margin of 20.90%.The company had revenue of $151.33 million for the quarter, compared to analysts’ expectations of $148.58 million. As a group, equities research analysts forecast that Cresco Labs will post -0.08 earnings per share for the current 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.