Green Thumb Industries (OTCMKTS:GTBIF) Shares Gap Down - What's Next?

Key Points

• Green Thumb Industries shares gapped down from a $7.31 close to a $7.03 open, later trading near $7.33 on relatively light volume.
• Analysts remain broadly positive, with a consensus “Buy” rating and an $18.00 price target from Seaport Research Partners and Roth Capital.
• The company exceeded quarterly expectations, reporting $0.02 EPS versus $0.01 expected and revenue of $306.68 million versus the $298.99 million consensus estimate.

Green Thumb Industries Inc. (OTCMKTS:GTBIF - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $7.31, but opened at $7.03. Green Thumb Industries shares last traded at $7.3340, with a volume of 25,744 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have commented on GTBIF shares. Seaport Research Partners reissued a "buy" rating and set a $18.00 target price on shares of Green Thumb Industries in a research note on Thursday, August 6th. Benchmark restated a "buy" rating on shares of Green Thumb Industries in a research note on Thursday, May 7th. Finally, Roth Capital set a $18.00 price target on shares of Green Thumb Industries in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Green Thumb Industries has a consensus rating of "Buy" and a consensus target price of $18.00.

Green Thumb Industries Stock Performance

The company has a market capitalization of $1.43 billion, a P/E ratio of 13.54 and a beta of 1.26. The stock has a 50 day moving average price of $7.41 and a 200 day moving average price of $7.14.

Green Thumb Industries (OTCMKTS:GTBIF - Get Free Report) last issued 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. The business had revenue of $306.68 million for the quarter, compared to analyst estimates of $298.99 million. Green Thumb Industries had a return on equity of 6.03% and a net margin of 10.48%. On average, research analysts predict that Green Thumb Industries Inc. will post 0.15 EPS for the current year.

About Green Thumb Industries

Green Thumb Industries is a diversified cannabis consumer packaged goods company and retailer with operations spanning cultivation, manufacturing and distribution. The company develops branded cannabis products across multiple formats, including dried flower, pre-rolls, oils, concentrates, edibles and vaporizers. Its product portfolio is marketed under well-known brand names tailored to the adult-use market, and the company works with licensed cultivators and partners to ensure consistent quality and compliance with state regulations.

In addition to its branded product lines, Green Thumb Industries maintains a network of wholly owned manufacturing facilities and distribution centers that supply its retail outlets as well as independent dispensaries.

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