Green Thumb Industries Inc. (OTCMKTS:GTBIF) Sees Significant Drop in Short Interest

Green Thumb Industries Inc. (OTCMKTS:GTBIF) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 170,063 shares, a drop of 34.6% from the August 15th total of 260,067 shares. Based on an average daily volume of 807,875 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the company are sold short.

Green Thumb Industries Stock Performance

Shares of OTCMKTS GTBIF traded down $0.01 during trading hours on Thursday, hitting $7.38. 37,340 shares of the stock were exchanged, compared to its average volume of 540,237. The company’s fifty day simple moving average is $7.31 and its two-hundred day simple moving average is $7.26. Green Thumb Industries has a 1-year low of $5.29 and a 1-year high of $10.43. The company has a market cap of $1.44 billion, a PE ratio of 13.67 and a beta of 1.27.

Green Thumb Industries (OTCMKTS:GTBIF) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $306.68 million during the quarter, compared to the consensus estimate of $298.99 million. Green Thumb Industries had a return on equity of 6.03% and a net margin of 10.48%. As a group, sell-side analysts expect that Green Thumb Industries will post 0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Roth Capital set a $18.00 price target on Green Thumb Industries in a research note on Wednesday, August 5th. Seaport Research Partners reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Green Thumb Industries in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $18.00.

About Green Thumb Industries

Green Thumb Industries Inc is a consumer-focused cannabis company that cultivates, manufactures and distributes cannabis products in the United States. Its product portfolio includes flower, pre-rolls, vapes, edibles, concentrates and other cannabis products sold under brands such as Good Green, &Shine, incredibles, Beboe and Dogwalkers.

The company also operates a national retail platform under the RISE Dispensaries name. Through its cultivation, manufacturing and retail operations, Green Thumb serves adult-use and medical cannabis markets across multiple states, including Illinois, Pennsylvania, Ohio, New Jersey, Nevada, Massachusetts, Maryland, Florida, Virginia, Connecticut and Minnesota.

Founded in 2014 and headquartered in Chicago, Green Thumb Industries has expanded through the development and acquisition of cultivation facilities, manufacturing operations and dispensary locations.