Cresco Labs Inc. (OTCMKTS:CRLBF) Short Interest Down 12.4% in July

Cresco Labs Inc. (OTCMKTS:CRLBF) was the recipient of a significant decline in short interest in July. As of July 15th, there was short interest totalling 1,744,000 shares, a decline of 12.4% from the June 30th total of 1,990,300 shares. Based on an average daily volume of 901,600 shares, the short-interest ratio is presently 1.9 days.

Wall Street Analysts Forecast Growth

CRLBF has been the topic of a number of research reports. Wedbush upped their price target on Cresco Labs from $2.50 to $3.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. Needham & Company LLC restated a “hold” rating on shares of Cresco Labs in a research note on Thursday, May 16th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $2.63.

Cresco Labs Stock Up 0.4 %

Shares of OTCMKTS:CRLBF traded up $0.01 during mid-day trading on Wednesday, hitting $1.59. 319,150 shares of the company traded hands, compared to its average volume of 393,255. The stock has a market cap of $774.68 million, a P/E ratio of -3.38 and a beta of 1.86. The stock has a 50-day moving average price of $1.70 and a two-hundred day moving average price of $1.91. Cresco Labs has a 12-month low of $1.00 and a 12-month high of $2.77. The company has a current ratio of 1.36, a quick ratio of 0.89 and a debt-to-equity ratio of 1.57.

Cresco Labs (OTCMKTS:CRLBF) last posted its earnings results on Wednesday, May 15th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). Cresco Labs had a negative net margin of 20.32% and a negative return on equity of 6.78%. The firm had revenue of $184.30 million during the quarter, compared to analyst estimates of $183.31 million. On average, equities research analysts forecast that Cresco Labs will post -0.03 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.