Darren415
Despite being named the most shorted cannabis stock by the financial data provider S3 Partners, Tilray Brands (NASDAQ:TLRY) is among a handful of marijuana companies to garner a Buy rating from Seeking Alpha’s Quant Ratings.
Noting that short selling in the sector has risen by $91M over the past 30 days, S3 Partners identified the top 20 most shorted cannabis stocks in a recent report following an analysis of 126 U.S. and Canadian pot stocks.
According to the firm, most of the recent short-selling targeted Tilray (TLRY) and Canopy Growth (CGC).
However, SA’s Quant Ratings indicated a Buy rating on Leamington, Canada-based Tilray (TLRY) while flagging Canopy Growth (CGC) as a Hold.
In addition to the two Canadian LPs, Aurora Cannabis (NASDAQ:ACB), Cronos Group (NASDAQ:CRON), SNDL (SNDL), Curaleaf Holdings (OTCPK:CURLF), Columbia Care (OTCQX:CCHWF), Trulieve Cannabis (OTCQX:TCNNF), Green Thumb Industries (OTCQX:GTBIF), and High Tide (NASDAQ:HITI) also made it onto S3 Partners’ list.
Cresco Labs (OTCQX:CRLBF), Verano Holdings (OTCQX:VRNOF), Organigram Holdings (OGI), WM Technology (MAPS), TerrAscend (OTCQX:TSNDF), Jushi Holdings (OTCQX:JUSHF), Planet 13 Holdings (OTCQX:PLNH), Charlotte’s Web Holdings (OTCQX:CWBHF), Flora Growth (FLGC), and Ayr Wellness (OTCQX:AYRWF) rounded out the top 20.
In addition to TLRY, Aurora Cannabis (ACB), Cronos Group (CRON), High Tide (HITI), Jushi Holdings (OTCQX:JUSHF), and Charlotte’s Web Holdings (OTCQX:CWBHF) also indicate Buy ratings per SA’s Quant Ratings, while the rest remain Hold-rated.
Notably on Wall Street, Verano Holdings (OTCQX:VRNOF), High Tide (HITI), Columbia Care (OTCQX:CCHWF), Green Thumb (OTCQX:GTBIF), TerrAscend (OTCQX:TSNDF), SNDL (SNDL), Trulieve Cannabis (OTCQX:TCNNF), and Flora Growth (FLGC) have garnered Strong Buy ratings from analysts.
Canopy (CGC), which saw its price target at Benchmark being slashed to $0 from $2.00 per share in July, is the only stock in the group to receive a Sell rating on Wall Street.
Meanwhile, SA analysts indicate TerrAscend (OTCQX:TSNDF), Planet 13 Holdings (OTCQX:PLNH), and Cresco Labs (OTCQX:CRLBF) as the only Strong Buys in the group.