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

Key Points

• Green Thumb Industries shares gapped down from a prior close of $7.51 to open at $7.31, later trading near $7.53 on modest volume.
• Analysts remain broadly positive, with a consensus “Buy” rating and an $18.00 price target, substantially above the current share price.
• The company beat quarterly expectations, reporting $0.02 in EPS versus $0.01 expected and $306.68 million in revenue versus a $298.99 million estimate.

Green Thumb Industries Inc. (OTCMKTS:GTBIF - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $7.51, but opened at $7.31. Green Thumb Industries shares last traded at $7.5275, with a volume of 12,375 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GTBIF shares. Benchmark reaffirmed a "buy" rating on shares of Green Thumb Industries in a report on Thursday, May 7th. Seaport Research Partners restated a "buy" rating and set a $18.00 target price on shares of Green Thumb Industries in a research report on Thursday, August 6th. Finally, Roth Capital set a $18.00 price target on Green Thumb Industries in a research note on Wednesday, August 5th. One equities research 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. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $18.00.

Green Thumb Industries Stock Performance

The firm's 50-day moving average is $7.30 and its two-hundred day moving average is $7.15. The stock has a market cap of $1.49 billion, a P/E ratio of 14.09 and a beta of 1.26.

Green Thumb Industries (OTCMKTS:GTBIF - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $306.68 million during the quarter, compared to analysts' expectations of $298.99 million. Green Thumb Industries had a return on equity of 6.03% and a net margin of 10.48%. As a group, research analysts forecast that Green Thumb Industries Inc. will post 0.16 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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