Cresco Labs Inc. (OTCMKTS:CRLBF – Get Free Report) saw a large decrease in short interest in September. As of September 15th, there was short interest totalling 1,256,300 shares, a decrease of 28.0% from the August 31st total of 1,744,300 shares. Based on an average trading volume of 939,700 shares, the days-to-cover ratio is presently 1.3 days.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. Ventum Cap Mkts raised shares of Cresco Labs to a “strong-buy” rating in a research note on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of Cresco Labs in a research note on Monday, August 12th. Finally, Roth Capital raised Cresco Labs from a “hold” rating to a “strong-buy” rating in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $2.50.
View Our Latest Report on CRLBF
Cresco Labs Price Performance
Cresco Labs (OTCMKTS:CRLBF – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $184.26 million. Research analysts expect that Cresco Labs will post -0.15 earnings per share for the current fiscal 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.
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