Short Interest in Cresco Labs Inc. (OTCMKTS:CRLBF) Drops By 17.6%

Cresco Labs Inc. (OTCMKTS:CRLBF - Get Free Report) was the target of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 475,200 shares, a drop of 17.6% from the April 30th total of 576,800 shares. Based on an average daily volume of 780,000 shares, the short-interest ratio is currently 0.6 days. Approximately 0.1% of the company's stock are short sold.

Analyst Upgrades and Downgrades

Separately, Cormark upgraded shares of Cresco Labs from a "hold" rating to a "moderate buy" rating in a research note on Monday, March 17th. Two research analysts have rated the stock with a hold rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Cresco Labs presently has a consensus rating of "Buy".

Cresco Labs Stock Down 9.7%

Shares of OTCMKTS CRLBF traded down $0.06 during mid-day trading on Wednesday, reaching $0.51. 2,441,942 shares of the company were exchanged, compared to its average volume of 654,059. The stock has a market cap of $250.42 million, a price-to-earnings ratio of -2.55 and a beta of 1.73. Cresco Labs has a 1 year low of $0.49 and a 1 year high of $2.05. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 1.80. The firm has a 50-day moving average of $0.70 and a 200 day moving average of $0.85.

Cresco Labs (OTCMKTS:CRLBF - Get Free Report) last announced its quarterly earnings data on Friday, May 30th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The company had revenue of $165.76 million during the quarter, compared to analysts' expectations of $164.37 million. Cresco Labs had a negative net margin of 9.15% and a negative return on equity of 16.52%. On average, research analysts expect that Cresco Labs will post -0.2 earnings per share for the current year.

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.