Glass House Brands Inc. (NYSE:GLAS) Sees Large Increase in Short Interest

Glass House Brands Inc. (NYSE:GLAS) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 144,167 shares, a growth of 83.5% from the June 30th total of 78,584 shares. Based on an average daily volume of 449,092 shares, the short-interest ratio is presently 0.3 days. Currently, 0.2% of the company’s shares are sold short.

Analyst Ratings Changes

GLAS has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Glass House Brands to a “sell” rating in a research note on Sunday, July 12th. Lake Street Capital started coverage on Glass House Brands in a research note on Monday, July 13th. They set a “buy” rating and a $17.00 price objective on the stock. Zacks Research raised shares of Glass House Brands from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings began coverage on Glass House Brands in a research note on Wednesday, July 1st. They set a “sell (d+)” rating for the company. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Glass House Brands Trading Up 4.4%

GLAS stock traded up $0.41 during trading on Thursday, hitting $9.82. 130,390 shares of the company’s stock traded hands, compared to its average volume of 253,422. Glass House Brands has a 52 week low of $4.95 and a 52 week high of $13.93.

Glass House Brands Inc is a vertically integrated cannabis company focused on the cultivation, manufacturing, and distribution of cannabis products in California. The company operates greenhouse and processing facilities and serves both the medical and adult-use cannabis markets through its branded product portfolio and wholesale channels.

Its business includes growing cannabis, producing finished goods, and selling flower, pre-rolls, and other cannabis products under its own brands as well as through third-party partnerships.