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

Green Thumb Industries Inc. (OTCMKTS:GTBIF) shares gapped down before the market opened on Wednesday. The stock had previously closed at $7.68, but opened at $7.20. Green Thumb Industries shares last traded at $7.1553, with a volume of 288,581 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on GTBIF shares. Roth Capital set a $18.00 price target on Green Thumb Industries in a research report on Wednesday, August 5th. Seaport Research Partners reissued a “buy” rating and issued a $18.00 target price on shares of Green Thumb Industries in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Green Thumb Industries presently has an average rating of “Buy” and a consensus target price of $18.00.

Green Thumb Industries Price Performance

The stock has a market cap of $1.33 billion, a PE ratio of 12.65 and a beta of 1.27. The business has a fifty day moving average of $7.38 and a 200-day moving average of $7.33.

Green Thumb Industries (OTCMKTS:GTBIF) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Green Thumb Industries had a net margin of 10.48% and a return on equity of 6.03%. The company had revenue of $306.68 million during the quarter, compared to analyst estimates of $298.99 million. As a group, equities research analysts predict that Green Thumb Industries Inc. will post 0.16 EPS for the current year.

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.