Short Interest in Glass House Brands Inc. (NYSE:GLAS) Grows By 108.4%

Glass House Brands Inc. (NYSE:GLAS) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 300,489 shares, an increase of 108.4% from the July 15th total of 144,167 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily volume of 371,591 shares, the short-interest ratio is presently 0.8 days.

Glass House Brands Trading Down 5.4%

Shares of GLAS traded down $0.54 during midday trading on Friday, reaching $9.44. The stock had a trading volume of 381,330 shares, compared to its average volume of 359,537. Glass House Brands has a 12-month low of $5.15 and a 12-month high of $13.93.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GLAS shares. Lake Street Capital started coverage on shares of Glass House Brands in a research report on Monday, July 13th. They set a “buy” rating and a $17.00 target price for the company. Zacks Research raised shares of Glass House Brands from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Canaccord Genuity Group set a $15.00 price objective on shares of Glass House Brands in a research report on Friday. Weiss Ratings initiated coverage on shares of Glass House Brands in a report on Wednesday, July 1st. They set a “sell (d+)” rating for the company. Finally, Wall Street Zen raised shares of Glass House Brands to a “sell” rating in a report on Sunday, July 12th. One 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

About Glass House Brands

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.