Glass House Brands Inc. (NYSE:GLAS) Stock Short Interest Report for September

Glass House Brands Inc. (NYSE:GLAS) saw a significant growth in short interest in September. As of September 30th, there was short interest totaling 378,723 shares, a growth of 89.6% from the September 15th total of 199,756 shares. Based on an average trading volume of 1,538,815 shares, the short-interest ratio is currently 0.2 days. Currently, 0.4% of the shares of the company are short sold.

Glass House Brands Price Performance

Glass House Brands stock traded down $0.55 during trading hours on Friday, hitting $3.16. The stock had a trading volume of 2,011,251 shares, compared to its average volume of 477,943. Glass House Brands has a 1-year low of $3.10 and a 1-year high of $13.93. The company has a market cap of $292.81 million and a PE ratio of -4.15. The firm has a fifty day simple moving average of $7.80. The company has a quick ratio of 0.70, a current ratio of 1.33 and a debt-to-equity ratio of 0.77.

Insider Transactions at Glass House Brands

In other Glass House Brands news, SVP William Tu sold 3,818 shares of Glass House Brands stock in a transaction on Friday, September 11th. The shares were sold at an average price of $8.03, for a total value of $30,658.54. Following the transaction, 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 transaction was disclosed in a document filed 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.

Analyst Upgrades and Downgrades

GLAS has been the topic of a number of recent analyst reports. Canaccord Genuity Group set a $15.00 price target on shares of Glass House Brands in a research note on Friday, August 14th. Lake Street Capital began coverage on shares of Glass House Brands in a research report on Monday, July 13th. They issued a “buy” rating and a $17.00 price objective for the company. Wall Street Zen upgraded Glass House Brands to a “sell” rating in a research note on Sunday, July 12th. Zacks Research lowered Glass House Brands from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Finally, Weiss Ratings cut Glass House Brands from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 11th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.00.

Glass House Brands Company Profile

Glass House Brands Inc is a cannabis company focused on the cultivation, manufacturing, distribution and sale of cannabis products in California. The company operates a vertically integrated business that includes large-scale greenhouse cultivation, product manufacturing and a retail platform serving California’s regulated cannabis market.

Glass House Brands markets cannabis flower and other cannabis products under brands including Glass House Farms. Its product portfolio has included flower, pre-rolls, concentrates and other manufactured cannabis products, which are sold through the company’s retail operations and third-party dispensaries, subject to applicable regulations.

The company was founded in 2015 by Kyle Kazan and Graham Farrar and has developed its operations primarily in California.