Green Thumb Industries (OTCMKTS:GTBIF) Trading Down 7.9% – What’s Next?

Green Thumb Industries Inc. (OTCMKTS:GTBIF)’s share price was down 7.9% during trading on Wednesday . The company traded as low as $6.68 and last traded at $6.6925. Approximately 525,912 shares were traded during trading, a decline of 6% from the average daily volume of 560,532 shares. The stock had previously closed at $7.27.

Analysts Set New Price Targets

GTBIF has been the topic of a number of research reports. Benchmark reaffirmed a “buy” rating on shares of Green Thumb Industries in a research note on Thursday, May 7th. Roth Capital set a $18.00 target price on Green Thumb Industries in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $18.00.

Green Thumb Industries Trading Down 7.5%

The firm’s 50-day moving average price is $7.54 and its 200-day moving average price is $7.19. The stock has a market capitalization of $1.31 billion, a PE ratio of 13.18 and a beta of 1.26.

Green Thumb Industries (OTCMKTS:GTBIF) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. Green Thumb Industries had a return on equity of 5.79% and a net margin of 10.14%.The company had revenue of $306.68 million during the quarter, compared to analyst estimates of $298.99 million. On average, equities research analysts predict that Green Thumb Industries Inc. will post 0.1 earnings per share for the current fiscal year.

Green Thumb Industries Company Profile

Green Thumb Industries is a diversified cannabis consumer packaged goods company and retailer with operations spanning cultivation, manufacturing and distribution. The company develops branded cannabis products across multiple formats, including dried flower, pre-rolls, oils, concentrates, edibles and vaporizers. Its product portfolio is marketed under well-known brand names tailored to the adult-use market, and the company works with licensed cultivators and partners to ensure consistent quality and compliance with state regulations.

In addition to its branded product lines, Green Thumb Industries maintains a network of wholly owned manufacturing facilities and distribution centers that supply its retail outlets as well as independent dispensaries.