Glass House Brands Inc. (NYSE:GLAS) Short Interest Update

Glass House Brands Inc. (NYSE:GLAS) was the target of a large decline in short interest in August. As of August 31st, there was short interest totaling 183,909 shares, a decline of 47.8% from the August 15th total of 352,255 shares. Based on an average trading volume of 433,271 shares, the short-interest ratio is currently 0.4 days. Approximately 0.2% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

GLAS has been the subject of a number of recent research reports. Lake Street Capital assumed coverage on Glass House Brands in a research note on Monday, July 13th. They set a “buy” rating and a $17.00 price target for the company. Zacks Research lowered shares of Glass House Brands from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Weiss Ratings cut shares of Glass House Brands from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 11th. Canaccord Genuity Group set a $15.00 target price on shares of Glass House Brands in a research report on Friday, August 14th. Finally, Wall Street Zen upgraded shares of Glass House Brands to a “sell” rating in a report on Sunday, July 12th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $16.00.

Glass House Brands Price Performance

Shares of NYSE:GLAS traded down $0.03 on Thursday, reaching $8.00. The company had a trading volume of 235,388 shares, compared to its average volume of 301,145. The company has a 50-day moving average of $9.69. Glass House Brands has a twelve month low of $5.15 and a twelve month high of $13.93.

Insider Buying and Selling at Glass House Brands

In other news, SVP William Tu sold 3,818 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $8.03, for a total value of $30,658.54. Following the transaction, the senior vice president directly owned 3,783 shares of the company’s stock, valued at approximately $30,377.49. This represents a 50.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

About Glass House Brands

Glass House Brands Inc is a vertically integrated cannabis company focused on the California market. The company cultivates cannabis in greenhouse facilities and manufactures, distributes and sells cannabis products through its portfolio of brands and retail operations.

Its products include cannabis flower, pre-rolls, concentrates, vapes and edibles. Key brands have included Glass House Farms, which focuses on greenhouse-grown cannabis flower, and PLUS, a producer of cannabis-infused gummies and other edible products.