Green Thumb Industries (OTCMKTS:GTBIF) Trading 5.4% Higher – Here’s What Happened

Green Thumb Industries Inc. (OTCMKTS:GTBIF) rose 5.4% during mid-day trading on Tuesday . The company traded as high as $8.25 and last traded at $7.9865. Approximately 716,342 shares changed hands during trading, an increase of 35% from the average daily volume of 530,014 shares. The stock had previously closed at $7.58.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GTBIF. Canaccord Genuity Group upgraded shares of Green Thumb Industries to a “strong-buy” rating in a research 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 investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy”.

Green Thumb Industries Stock Performance

The stock has a market capitalization of $1.65 billion, a P/E ratio of 46.77 and a beta of 1.20. The firm’s 50-day simple moving average is $7.01 and its 200 day simple moving average is $7.00.

Green Thumb Industries (OTCMKTS:GTBIF) last announced its earnings results on Wednesday, November 5th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $291.37 million for the quarter, compared to analyst estimates of $290.98 million. Green Thumb Industries had a return on equity of 1.66% and a net margin of 3.77%. As a group, research analysts expect that Green Thumb Industries Inc. will post 0.32 earnings per share 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.