Short Interest in Cresco Labs Inc. (OTCMKTS:CRLBF) Decreases By 9.8%

Cresco Labs Inc. (OTCMKTS:CRLBF) was the recipient of a significant decline in short interest in December. As of December 15th, there was short interest totalling 726,100 shares, a decline of 9.8% from the November 30th total of 805,300 shares. Based on an average trading volume of 1,814,600 shares, the days-to-cover ratio is currently 0.4 days.

Cresco Labs Stock Performance

Shares of OTCMKTS:CRLBF traded up $0.08 during mid-day trading on Wednesday, reaching $0.91. The company had a trading volume of 1,402,153 shares, compared to its average volume of 776,741. Cresco Labs has a one year low of $0.78 and a one year high of $2.65. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 1.80. The company’s 50-day moving average price is $1.18 and its 200-day moving average price is $1.48. The firm has a market cap of $446.01 million, a price-to-earnings ratio of -4.57 and a beta of 1.73.

Analyst Ratings Changes

Several brokerages have recently issued reports on CRLBF. Atb Cap Markets downgraded shares of Cresco Labs from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Roth Capital raised Cresco Labs to a “strong-buy” rating in a research note on Sunday, November 10th. Finally, Cormark lowered Cresco Labs from a “moderate buy” rating to a “hold” rating in a research report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2.50.

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.