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

Cresco Labs Inc. (OTCMKTS:CRLBF) was the recipient of a significant increase in short interest in 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 volume of 2,892,844 shares, the short-interest ratio is presently 0.3 days.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Cresco Labs from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Cresco Labs Stock Performance

OTCMKTS CRLBF traded down $0.02 during trading hours on Monday, hitting $1.01. The company had a trading volume of 1,309,412 shares, compared to its average volume of 944,202. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.60 and a current ratio of 2.59. Cresco Labs has a 1-year low of $0.43 and a 1-year high of $2.30. The company has a market cap of $506.27 million, a PE ratio of -2.58 and a beta of 1.59. The business has a 50 day moving average of $0.98 and a 200-day moving average of $1.06.

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

Cresco Labs Company Profile

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.