Glass House Brands (NYSE:GLAS) SVP William Tu Sells 3,818 Shares

Glass House Brands Inc. (NYSE:GLAS) SVP William Tu sold 3,818 shares of Glass House Brands stock in a transaction on Friday, September 11th. The stock was sold at an average price of $8.03, for a total value of $30,658.54. Following the sale, the senior vice president owned 3,783 shares in the company, valued at $30,377.49. This trade represents a 50.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Glass House Brands Stock Down 1.1%

Glass House Brands stock opened at $7.89 on Friday. The company’s 50 day moving average is $9.89. Glass House Brands Inc. has a twelve month low of $5.15 and a twelve month high of $13.93.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Weiss Ratings initiated coverage on Glass House Brands in a research report on Wednesday, July 1st. They issued a “sell (d+)” rating for the company. Zacks Research downgraded shares of Glass House Brands from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. Wall Street Zen upgraded shares of Glass House Brands to a “sell” rating in a report on Sunday, July 12th. Canaccord Genuity Group set a $15.00 price objective on shares of Glass House Brands in a research note on Friday, August 14th. Finally, Lake Street Capital started coverage on shares of Glass House Brands in a report on Monday, July 13th. They set a “buy” rating and a $17.00 target price on the stock. 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 MarketBeat, Glass House Brands presently has an average rating of “Hold” and an average target price 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.