Trulieve Cannabis Corp. (NYSE:TRLV) Shares Shorted: Short Interest Up 254.2% in September

Trulieve Cannabis Corp. (NYSE:TRLV) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totaling 5,117,058 shares, a growth of 254.2% from the August 31st total of 1,444,593 shares. Based on an average daily volume of 1,803,727 shares, the short-interest ratio is currently 2.8 days. Approximately 2.8% of the shares of the stock are short sold.

Trulieve Cannabis Price Performance

TRLV stock traded down $0.05 during trading on Friday, hitting $12.22. The company had a trading volume of 1,011,072 shares, compared to its average volume of 2,325,122. The company has a 50-day simple moving average of $10.38. Trulieve Cannabis has a 12 month low of $4.62 and a 12 month high of $13.28.

Trulieve Cannabis (NYSE:TRLV) last released its earnings results on Friday, August 7th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $271.00 million for the quarter, compared to the consensus estimate of $268.82 million. As a group, equities analysts expect that Trulieve Cannabis will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TRLV has been the topic of a number of recent analyst reports. Wall Street Zen lowered Trulieve Cannabis from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 target price on shares of Trulieve Cannabis in a research note on Friday, August 7th. Zacks Research raised Trulieve Cannabis to a “hold” rating in a report on Thursday, June 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Trulieve Cannabis in a research report on Friday, September 11th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Trulieve Cannabis presently has an average rating of “Hold” and an average target price of $15.00.

About Trulieve Cannabis

Trulieve Cannabis Corp. is a vertically integrated cannabis company that cultivates, processes, manufactures and sells medical and adult-use cannabis products. Its product portfolio includes flower, pre-rolls, concentrates, edibles, tinctures, capsules and topical products, marketed under the Trulieve brand and other affiliated brands.

The company sells its products through a network of company-operated dispensaries and, where permitted, through wholesale and other distribution channels.