Key Points
- Glass House Brands SVP William Tu sold 3,818 shares at an average price of $8.03, totaling $30,658.54. The transaction covered tax withholding obligations tied to vested equity awards and reduced his ownership by 50.23% to 3,783 shares.
- GLAS shares opened at $7.89 and were down 1.1%, trading below their 50-day moving average of $9.89. The stock has ranged from $5.15 to $13.93 over the past year.
- Analyst views are mixed, with one Buy, one Hold, and one Sell rating; the overall consensus is Hold, with a consensus price target of $16.00.
Glass House Brands Inc. (NYSE:GLAS - Get Free Report) SVP William Tu sold 3,818 shares of the business's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $8.03, for a total transaction of $30,658.54. Following the sale, the senior vice president owned 3,783 shares of the company's stock, valued at approximately $30,377.49. This represents a 50.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Glass House Brands Trading Down 1.1%
GLAS stock opened at $7.89 on Friday. Glass House Brands Inc. has a 1 year low of $5.15 and a 1 year high of $13.93. The business has a fifty day moving average price of $9.89.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on GLAS shares. Wall Street Zen raised shares of Glass House Brands to a "sell" rating in a report on Sunday, July 12th. Weiss Ratings initiated coverage on shares of Glass House Brands in a report on Wednesday, July 1st. They issued a "sell (d+)" rating for the company. Canaccord Genuity Group set a $15.00 target price on shares of Glass House Brands in a report on Friday, August 14th. Zacks Research cut shares of Glass House Brands from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 20th. Finally, Lake Street Capital began coverage on shares of Glass House Brands in a report on Monday, July 13th. They issued a "buy" rating and a $17.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $16.00.
Check Out Our Latest Research Report on Glass House Brands
Glass House Brands Company Profile
(
Get Free Report)
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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