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

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

Analysts Set New Price Targets

Several analysts recently issued reports on GLAS shares. Lake Street Capital initiated coverage on Glass House Brands in a report on Monday, July 13th. They set a “buy” rating and a $17.00 price objective for the company. Zacks Research raised Glass House Brands from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Weiss Ratings assumed coverage on Glass House Brands in a research note on Wednesday, July 1st. They set a “sell (d+)” rating for the company. Finally, Wall Street Zen upgraded Glass House Brands to a “sell” rating in a report on Sunday, July 12th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Glass House Brands currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Glass House Brands Price Performance

Glass House Brands stock traded down $0.28 during mid-day trading on Friday, hitting $9.62. 333,714 shares of the company’s stock were exchanged, compared to its average volume of 255,951. Glass House Brands has a 1-year low of $4.95 and a 1-year 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.