Cresco Labs Inc. (OTCMKTS:CRLBF) Sees Significant Drop in Short Interest

Cresco Labs Inc. (OTCMKTS:CRLBF) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 653,500 shares, a drop of 19.2% from the March 31st total of 809,200 shares. Based on an average daily volume of 1,055,100 shares, the days-to-cover ratio is currently 0.6 days.

Shares of CRLBF traded up $0.50 during trading hours on Tuesday, reaching $13.50. 1,024,006 shares of the company’s stock traded hands, compared to its average volume of 1,313,671. Cresco Labs has a twelve month low of $3.24 and a twelve month high of $17.49. The business’s fifty day simple moving average is $12.63 and its two-hundred day simple moving average is $11.59.

A number of research firms have issued reports on CRLBF. Haywood Securities raised their target price on Cresco Labs to $24.00 and gave the company a “na” rating in a research note on Monday, January 18th. Stifel Nicolaus cut their target price on Cresco Labs from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, March 26th. Canaccord Genuity raised their target price on Cresco Labs from $16.00 to $20.50 and gave the company a “buy” rating in a research note on Wednesday, January 13th. Cantor Fitzgerald raised their target price on Cresco Labs from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 20th. Finally, BTIG Research began coverage on Cresco Labs in a research note on Monday, March 8th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $19.21.

Cresco Labs Company Profile

Cresco Labs Inc, together with its subsidiaries, cultivates, manufactures, and sells medical cannabis and medical cannabis products in the United States. It offers cannabis in flowers, live concentrates, and liquid live resins under the Cresco and Reserve brands; soft gels, tinctures, and lotions under the Remedi brand; gummies, fruit chews, hard sweets, and chocolates under the Mindy's brand; and vape pens, popcorn, shake, pre-rolls, and shorties under High supply brand.

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