Green Thumb Industries Inc. (OTCMKTS:GTBIF) Sees Large 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 recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 11,600 shares, adecreaseof77.5% from the July 15th total of 51,600 shares. Approximately0.0% of the company's stock are sold short. Based on an average daily volume of 1,166,300 shares, the short-interest ratio is currently 0.0 days. Based on an average daily volume of 1,166,300 shares, the short-interest ratio is currently 0.0 days. Approximately0.0% of the company's stock are sold short.

Analysts Set New Price Targets

Separately, Benchmark reissued a "buy" rating on shares of Green Thumb Industries in a research report on Monday.

Green Thumb Industries Stock Performance

Shares of GTBIF stock traded down $0.35 during mid-day trading on Friday, reaching $8.28. The company's stock had a trading volume of 303,219 shares, compared to its average volume of 482,912. The firm's 50-day moving average is $5.97 and its two-hundred day moving average is $6.04. Green Thumb Industries has a 1-year low of $4.63 and a 1-year high of $12.00. The company has a market cap of $1.75 billion, a P/E ratio of 75.28 and a beta of 1.18.

Green Thumb Industries (OTCMKTS:GTBIF - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.05). Green Thumb Industries had a return on equity of 1.62% and a net margin of 2.51%. The firm had revenue of $293.26 million for the quarter, compared to the consensus estimate of $280.66 million. Sell-side analysts anticipate that Green Thumb Industries will post 0.32 EPS for the current year.

About Green Thumb Industries

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.

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