Short Interest in Glass House Brands Inc. (NYSE:GLAS) Grows By 108.4%

Glass House Brands Inc. (NYSE:GLAS) was the target of a large growth in short interest in July. As of July 31st, there was short interest totaling 300,489 shares, a growth of 108.4% from the July 15th total of 144,167 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 371,591 shares, the days-to-cover ratio is presently 0.8 days.

Glass House Brands Price Performance

NYSE:GLAS traded down $0.54 during trading hours on Friday, hitting $9.44. 381,330 shares of the company’s stock traded hands, compared to its average volume of 359,537. Glass House Brands has a 52 week low of $5.15 and a 52 week high of $13.93.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GLAS. Wall Street Zen raised shares of Glass House Brands to a “sell” rating in a report on Sunday, July 12th. Canaccord Genuity Group set a $15.00 price objective on shares of Glass House Brands in a research note on Friday. Zacks Research raised shares of Glass House Brands from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Weiss Ratings initiated coverage on shares of Glass House Brands in a report on Wednesday, July 1st. They set a “sell (d+)” rating on the stock. Finally, Lake Street Capital began coverage on shares of Glass House Brands in a research note on Monday, July 13th. They issued a “buy” rating and a $17.00 target price on the stock. 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Glass House Brands Company Profile

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.