Trulieve Cannabis Corp. (NYSE:TRLV) Sees Significant Increase in Short Interest

Trulieve Cannabis Corp. (NYSE:TRLV) was the target of a significant growth in short interest during 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. Based on an average daily trading volume, of 1,051,176 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.9% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research firms have recently weighed in on TRLV. Wall Street Zen downgraded Trulieve Cannabis from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Cantor Fitzgerald began coverage on shares of Trulieve Cannabis in a research report on Monday, July 20th. They set an “overweight” rating and a $15.00 target price for the company. Weiss Ratings initiated coverage on shares of Trulieve Cannabis in a research note on Tuesday, June 16th. They issued a “sell (d-)” rating for the company. Finally, Zacks Research upgraded shares of Trulieve Cannabis to a “hold” rating in a research note on Thursday, June 18th. One equities 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 stock presently has an average rating of “Hold” and a consensus target price of $15.00.

Trulieve Cannabis Stock Down 0.7%

Trulieve Cannabis stock traded down $0.06 during midday trading on Tuesday, reaching $8.27. 619,138 shares of the stock were exchanged, compared to its average volume of 631,280. Trulieve Cannabis has a 52 week low of $4.19 and a 52 week high of $13.28.

Insider Transactions at Trulieve Cannabis

In other Trulieve Cannabis news, CEO Kim A. Rivers sold 136,811 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $8.76, for a total value of $1,198,464.36. Following the sale, the chief executive officer directly owned 1,476,913 shares in the company, valued at $12,937,757.88. The trade was a 8.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,699,007 shares of company stock valued at $14,661,355 over the last three months. Company insiders own 3.79% of the company’s stock.

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.