Trulieve Cannabis Corp. (NYSE:TRLV) Short Interest Update

Trulieve Cannabis Corp. (NYSE:TRLV) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 1,742,142 shares, an increase of 115.1% from the June 30th total of 809,950 shares. Based on an average daily volume of 1,051,176 shares, the short-interest ratio is presently 1.7 days. Currently, 0.9% of the shares of the stock are sold short.

Trulieve Cannabis Price Performance

Shares of TRLV traded up $0.39 on Thursday, hitting $8.45. The company’s stock had a trading volume of 1,439,866 shares, compared to its average volume of 640,789. Trulieve Cannabis has a fifty-two week low of $4.19 and a fifty-two week high of $13.28.

Insider Activity

In other news, CEO Kim A. Rivers sold 400,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $8.17, for a total value of $3,268,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,913,724 shares of the company’s stock, valued at approximately $15,635,125.08. This represents a 17.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,699,007 shares of company stock valued at $14,661,355. Corporate insiders own 3.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on TRLV shares. Zacks Research upgraded Trulieve Cannabis to a “hold” rating in a research report on Thursday, June 18th. Weiss Ratings initiated coverage on Trulieve Cannabis in a report on Tuesday, June 16th. They set a “sell (d-)” rating for the company. Wall Street Zen downgraded shares of Trulieve Cannabis from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Finally, Cantor Fitzgerald assumed coverage on shares of Trulieve Cannabis in a report on Monday, July 20th. They issued an “overweight” rating and a $15.00 target price on the stock. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Trulieve Cannabis presently has an average rating of “Hold” and an average target price of $15.00.

Trulieve Cannabis Company Profile

Trulieve Cannabis Corp. is a vertically integrated cannabis company focused on the cultivation, processing, and retail sale of medical and adult-use cannabis products. The company offers a range of products that may include flower, pre-rolls, concentrates, edibles, vape products, and topicals through its dispensary network and branded product portfolio.

Trulieve’s operations have been centered primarily in the United States, with a strong presence in Florida and additional markets in other states where cannabis is legally regulated.