Glass House Brands Inc. (NYSE:GLAS) Sees Large Increase in Short Interest

Glass House Brands Inc. (NYSE:GLAS) was the recipient of a large increase in short interest during the month of 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. Currently, 0.2% of the shares of the company are short sold. Based on an average daily volume of 449,092 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analysts Forecast Growth

GLAS has been the topic of several recent analyst reports. Weiss Ratings began coverage on Glass House Brands in a research note on Wednesday, July 1st. They set a “sell (d+)” rating on the stock. Lake Street Capital began 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. Wall Street Zen upgraded shares of Glass House Brands to a “sell” rating in a research report on Sunday, July 12th. Finally, Zacks Research raised shares of Glass House Brands from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Glass House Brands currently has an average rating of “Moderate Buy” and an average price target of $17.00.

Glass House Brands Stock Up 4.4%

Shares of Glass House Brands stock traded up $0.41 on Thursday, reaching $9.82. 130,390 shares of the company were exchanged, compared to its average volume of 253,422. Glass House Brands has a fifty-two week low of $4.95 and a fifty-two week 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.