Trulieve Cannabis Corp. (NYSE:TRLV) Short Interest Up 174.1% in June

Trulieve Cannabis Corp. (NYSE:TRLV) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 809,950 shares, a growth of 174.1% from the June 15th total of 295,465 shares. Based on an average daily volume of 2,214,683 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.4% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TRLV. Wall Street Zen downgraded Trulieve Cannabis from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Weiss Ratings initiated coverage on Trulieve Cannabis in a research note on Tuesday, June 16th. They issued a “sell (d-)” rating for the company. Finally, Zacks Research raised Trulieve Cannabis to a “hold” rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Trulieve Cannabis currently has an average rating of “Reduce”.

Insider Transactions at Trulieve Cannabis

In other news, CEO Kim A. Rivers sold 400,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $8.17, for a total transaction of $3,268,000.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,699,007 shares of company stock valued at $14,661,355 over the last 90 days. 3.79% of the stock is currently owned by insiders.

Trulieve Cannabis Price Performance

TRLV traded down $0.49 during trading on Wednesday, reaching $8.57. 715,446 shares of the company’s stock were exchanged, compared to its average volume of 630,215. Trulieve Cannabis has a 1 year low of $4.00 and a 1 year high of $13.28.

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.