Green Thumb Industries (OTCMKTS:GTBIF) Shares Gap Down – What’s Next?

Green Thumb Industries Inc. (OTCMKTS:GTBIF) gapped down before the market opened on Friday . The stock had previously closed at $8.14, but opened at $7.88. Green Thumb Industries shares last traded at $8.0076, with a volume of 24,488 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GTBIF. Canaccord Genuity Group upgraded Green Thumb Industries to a “strong-buy” rating in a report on Thursday, October 9th. Zacks Research upgraded shares of Green Thumb Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Green Thumb Industries presently has an average rating of “Buy”.

Green Thumb Industries Stock Performance

The business’s 50 day moving average is $7.00 and its 200-day moving average is $7.03. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 47.12 and a beta of 1.20.

Green Thumb Industries (OTCMKTS:GTBIF) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Green Thumb Industries had a net margin of 3.77% and a return on equity of 1.66%. The firm had revenue of $291.37 million for the quarter, compared to analyst estimates of $290.98 million. Sell-side analysts anticipate that Green Thumb Industries Inc. will post 0.32 EPS for the current fiscal year.

About Green Thumb Industries

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.