Green Thumb Industries (OTCMKTS:GTBIF) Shares Gap Up - Here's Why

Key Points

• Green Thumb Industries' stock price increased from $7.42 to $7.86 after market opening, closing at $7.61 with a trading volume of 36,185 shares.
• Analysts have shown optimism, with Zacks raising their rating from "strong sell" to "hold" and Benchmark maintaining a "buy" rating, leading to a consensus rating of "Buy."
• For the most recent quarter, Green Thumb reported a loss of ($0.01) EPS, missing the estimate, but exceeded revenue expectations with $293.26 million against estimates of $280.66 million.

Green Thumb Industries Inc. (OTCMKTS:GTBIF - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $7.42, but opened at $7.86. Green Thumb Industries shares last traded at $7.61, with a volume of 36,185 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Zacks Research raised Green Thumb Industries from a "strong sell" rating to a "hold" rating in a report on Friday, September 5th. Benchmark reissued a "buy" rating on shares of Green Thumb Industries in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Green Thumb Industries has a consensus rating of "Buy".

Green Thumb Industries Trading Up 0.1%

The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 67.51 and a beta of 1.23. The company has a fifty day moving average price of $7.58 and a 200-day moving average price of $6.26.

Green Thumb Industries (OTCMKTS:GTBIF - Get Free Report) last announced 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). The firm 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%. As a group, sell-side analysts predict that Green Thumb Industries Inc. will post 0.32 EPS for the current fiscal year.

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.

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