Cresco Labs Inc. (OTCMKTS:CRLBF) Short Interest Down 5.5% in August

Cresco Labs Inc. (OTCMKTS:CRLBF) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 1,744,300 shares, a decrease of 5.5% from the August 15th total of 1,846,200 shares. Based on an average daily trading volume, of 1,088,800 shares, the short-interest ratio is currently 1.6 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CRLBF shares. Needham & Company LLC restated a “hold” rating on shares of Cresco Labs in a report on Monday, August 12th. Roth Capital upgraded Cresco Labs from a “hold” rating to a “strong-buy” rating in a report on Friday, August 9th. Finally, Ventum Cap Mkts upgraded Cresco Labs to a “strong-buy” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $2.50.

Cresco Labs Trading Down 1.8 %

Shares of CRLBF stock opened at $1.67 on Wednesday. Cresco Labs has a 12 month low of $1.06 and a 12 month high of $2.65. The company has a quick ratio of 1.30, a current ratio of 2.00 and a debt-to-equity ratio of 1.76. The business’s 50 day moving average is $1.67 and its two-hundred day moving average is $1.83. The company has a market cap of $815.19 million, a PE ratio of -3.55 and a beta of 1.85.

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