Short Interest in Cresco Labs Inc. (OTCMKTS:CRLBF) Expands By 5.7%

Cresco Labs Inc. (OTCMKTS:CRLBF) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 805,300 shares, a growth of 5.7% from the November 15th total of 762,000 shares. Based on an average daily volume of 1,541,300 shares, the days-to-cover ratio is presently 0.5 days.

Cresco Labs Price Performance

Shares of CRLBF opened at $0.95 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.39 and a current ratio of 1.97. The company has a 50 day moving average price of $1.34 and a 200-day moving average price of $1.55. Cresco Labs has a fifty-two week low of $0.90 and a fifty-two week high of $2.65. The stock has a market capitalization of $463.73 million, a PE ratio of -4.76 and a beta of 1.73.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRLBF. Cormark lowered shares of Cresco Labs from a “moderate buy” rating to a “hold” rating in a report on Monday, November 11th. Atb Cap Markets cut shares of Cresco Labs from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Finally, Roth Capital upgraded shares of Cresco Labs to a “strong-buy” rating in a report on Sunday, November 10th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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.