Glass House Brands Inc. (NYSE:GLAS – Get Free Report) SVP William Tu sold 3,818 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $8.03, for a total transaction of $30,658.54. Following the completion of the sale, the senior vice president directly owned 3,783 shares in the company, valued at approximately $30,377.49. The trade was a 50.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Glass House Brands Stock Down 1.1%
Shares of GLAS opened at $7.89 on Friday. The business’s 50-day simple moving average is $9.89. Glass House Brands Inc. has a 12-month low of $5.15 and a 12-month high of $13.93.
Analyst Ratings Changes
Several brokerages recently issued reports on GLAS. Lake Street Capital started coverage on Glass House Brands in a research report on Monday, July 13th. They set a “buy” rating and a $17.00 price objective for the company. Canaccord Genuity Group set a $15.00 target price on Glass House Brands in a report on Friday, August 14th. Weiss Ratings downgraded Glass House Brands from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday. Zacks Research downgraded Glass House Brands from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Finally, Wall Street Zen raised Glass House Brands to a “sell” rating in a report on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Glass House Brands has a consensus rating of “Hold” 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.
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