Glass House Brands Inc. (NYSE:GLAS – Get Free Report) SVP William Tu sold 3,818 shares of Glass House Brands stock in a transaction that occurred on Friday, September 11th. The stock was 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 owned 3,783 shares of the company’s stock, valued at $30,377.49. This represents a 50.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 traded down $0.09 during mid-day trading on Friday, hitting $7.89. 859,680 shares of the company traded hands, compared to its average volume of 294,242. The business has a 50-day moving average price of $9.98. Glass House Brands Inc. has a 1 year low of $5.15 and a 1 year high of $13.93.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the company. Lake Street Capital started coverage on Glass House Brands in a report on Monday, July 13th. They set a “buy” rating and a $17.00 price target on the stock. Canaccord Genuity Group set a $15.00 price objective on Glass House Brands in a report on Friday, August 14th. Weiss Ratings began coverage on Glass House Brands in a research report on Wednesday, July 1st. They set a “sell (d+)” rating for the company. Zacks Research downgraded Glass House Brands from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Finally, Wall Street Zen raised Glass House Brands to a “sell” rating in a research report on Sunday, July 12th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.00.
Glass House Brands Company Profile
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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