Short Interest in Trulieve Cannabis Corp. (NYSE:TRLV) Increases By 115.1%

Trulieve Cannabis Corp. (NYSE:TRLV) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 1,742,142 shares, a growth of 115.1% from the June 30th total of 809,950 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average daily trading volume, of 1,051,176 shares, the days-to-cover ratio is presently 1.7 days.

Analyst Ratings Changes

Several brokerages recently commented on TRLV. Cantor Fitzgerald started coverage on shares of Trulieve Cannabis in a research report on Monday, July 20th. They set an “overweight” rating and a $15.00 price objective on the stock. Zacks Research raised shares of Trulieve Cannabis to a “hold” rating in a report on Thursday, June 18th. Weiss Ratings began coverage on shares of Trulieve Cannabis in a research note on Tuesday, June 16th. They issued a “sell (d-)” rating on the stock. Finally, Wall Street Zen cut shares of Trulieve Cannabis from a “strong-buy” rating to a “buy” 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Trulieve Cannabis currently has an average rating of “Hold” and a consensus price target of $15.00.

Trulieve Cannabis Price Performance

Shares of Trulieve Cannabis stock traded down $0.28 on Wednesday, reaching $8.04. The company’s stock had a trading volume of 996,844 shares, compared to its average volume of 635,146. Trulieve Cannabis has a 52 week low of $4.19 and a 52 week high of $13.28.

Insider Activity

In related news, CEO Kim A. Rivers sold 400,000 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $8.17, for a total value of $3,268,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,913,724 shares in the company, valued at $15,635,125.08. This trade represents a 17.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 1,699,007 shares of company stock valued at $14,661,355. 3.79% of the stock is owned by company insiders.

About Trulieve Cannabis

Trulieve Cannabis Corp. is a vertically integrated cannabis company focused on the cultivation, processing, and retail sale of medical and adult-use cannabis products. The company offers a range of products that may include flower, pre-rolls, concentrates, edibles, vape products, and topicals through its dispensary network and branded product portfolio.

Trulieve’s operations have been centered primarily in the United States, with a strong presence in Florida and additional markets in other states where cannabis is legally regulated.