Green Thumb Industries (OTCMKTS:GTBIF) Shares Down 7.4% - Here's What Happened

Key Points

• Green Thumb Industries Inc. shares fell by 7.4% during trading, closing at $7.61, with a trading volume down 16% from the average.
• The company reported earnings per share of ($0.01), missing the consensus estimate of $0.04, while revenues for the quarter reached $293.26 million, exceeding analyst estimates.
• Analysts have mixed ratings on the stock, with an average rating of "Buy" following recent upgrades and downgrades, indicating some confidence in its potential.

Green Thumb Industries Inc. (OTCMKTS:GTBIF - Get Free Report) shares dropped 7.4% during trading on Monday . The stock traded as low as $7.61 and last traded at $7.61. Approximately 398,060 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 471,413 shares. The stock had previously closed at $8.22.

Analyst Upgrades and Downgrades

GTBIF has been the topic of several analyst reports. Zacks Research upgraded Green Thumb Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, September 5th. Benchmark restated a "buy" rating on shares of Green Thumb Industries in a research report on Monday, August 11th. One 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. According to MarketBeat, the stock currently has an average rating of "Buy".

Green Thumb Industries Trading Down 7.4%

The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 69.19 and a beta of 1.22. The firm has a 50-day moving average price of $7.46 and a 200-day moving average price of $6.23.

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