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

Key Points

• Green Thumb Industries experienced a 77.5% decline in short interest as of July 31, with only 11,600 shares sold short, indicating increased investor confidence.
• Benchmark reissued a "buy" rating on Green Thumb Industries, showing positive analyst sentiment despite the company's recent quarterly earnings miss.
• The company reported a net revenue of $293.26 million for the quarter, exceeding estimates, but had a loss of $0.01 earnings per share, missing expectations by $0.05.

Green Thumb Industries Inc. (OTCMKTS:GTBIF - Get Free Report) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 11,600 shares, adeclineof77.5% from the July 15th total of 51,600 shares. Based on an average daily volume of 1,166,300 shares, the short-interest ratio is presently 0.0 days. Approximately0.0% of the company's stock are short sold. Approximately0.0% of the company's stock are short sold. Based on an average daily volume of 1,166,300 shares, the short-interest ratio is presently 0.0 days.

Green Thumb Industries Stock Performance

Shares of GTBIF traded up $0.5725 during trading hours on Wednesday, reaching $7.97. 599,638 shares of the company traded hands, compared to its average volume of 495,675. The stock's fifty day moving average is $6.12 and its 200 day moving average is $6.05. The stock has a market cap of $1.69 billion, a P/E ratio of 72.46 and a beta of 1.18. Green Thumb Industries has a 1-year low of $4.63 and a 1-year high of $11.50.

Green Thumb Industries (OTCMKTS:GTBIF - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.05). The company had revenue of $293.26 million for the quarter, compared to analyst estimates of $280.66 million. Green Thumb Industries had a net margin of 2.51% and a return on equity of 1.62%. On average, equities research analysts predict that Green Thumb Industries will post 0.32 EPS for the current year.

Analysts Set New Price Targets

Separately, Benchmark reissued a "buy" rating on shares of Green Thumb Industries in a research report on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Green Thumb Industries has a consensus rating of "Strong Buy".

Green Thumb Industries Company Profile

Green Thumb Industries Inc manufactures, distributes, markets, and sells of cannabis products for medical and adult-use in the United States. It operates through two segments, Retail and Consumer Packaged Goods. The company offers cannabis flower; processed and packaged products, including pre-rolls, concentrates, vapes, capsules, tinctures, edibles, topicals, and other cannabis-related products under the &Shine, Beboe, Dogwalkers, Doctor Solomon's, Good Green, incredibles, and RHYTHM brands.