Green Thumb Industries (OTCMKTS:GTBIF) Shares Up 4.1% – Here’s What Happened

Green Thumb Industries Inc. (OTCMKTS:GTBIF) shot up 4.1% on Wednesday. The stock traded as high as $7.87 and last traded at $7.8320. Approximately 633,894 shares were traded during trading, an increase of 17% from the average daily volume of 541,721 shares. The stock had previously closed at $7.52.

Analysts Set New Price Targets

Several brokerages recently issued reports on GTBIF. Roth Capital set a $18.00 price target on shares of Green Thumb Industries in a research note on Wednesday, August 5th. Seaport Research Partners reissued a “buy” rating and set a $18.00 price objective on shares of Green Thumb Industries in a research note on Thursday, August 6th. One 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $18.00.

Green Thumb Industries Stock Performance

The company has a market cap of $1.53 billion, a P/E ratio of 14.47 and a beta of 1.27. The stock has a 50-day moving average of $7.34 and a two-hundred day moving average of $7.31.

Green Thumb Industries (OTCMKTS:GTBIF) last released its 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 6.03% and a net margin of 10.48%.The business had revenue of $306.68 million for the quarter, compared to the consensus estimate of $298.99 million. Research analysts predict that Green Thumb Industries Inc. will post 0.16 EPS for the current year.

Green Thumb Industries Company Profile

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.