Glass House Brands Inc. (NYSE:GLAS) Short Interest Up 83.5% in July

Glass House Brands Inc. (NYSE:GLAS) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totaling 144,167 shares, a growth 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. Currently, 0.2% of the company’s shares are sold short.

Glass House Brands Stock Down 2.9%

Shares of GLAS traded down $0.28 during mid-day trading on Friday, hitting $9.62. The company’s stock had a trading volume of 333,714 shares, compared to its average volume of 255,951. Glass House Brands has a 52-week low of $4.95 and a 52-week high of $13.93.

Wall Street Analysts Forecast Growth

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

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.