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

Key Points

• Green Thumb Industries shares gapped up from $8.08 to $8.40 prior to trading on Friday, with the latest trade at $7.90 and a volume of 59,258 shares.
• Analyst ratings are mixed, with Canaccord Genuity upgrading the stock to "strong-buy," while Zacks Research downgraded it to "strong sell," leading to an average rating of "buy."
• The company reported revenue of $293.26 million for the last quarter, surpassing estimates, but missed earnings per share expectations with a reported EPS of ($0.01).

Shares of Green Thumb Industries Inc. (OTCMKTS:GTBIF - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $8.08, but opened at $8.40. Green Thumb Industries shares last traded at $7.90, with a volume of 59,258 shares changing hands.

Analyst Upgrades and Downgrades

GTBIF has been the topic of several recent analyst reports. Canaccord Genuity Group raised shares of Green Thumb Industries to a "strong-buy" rating in a report on Thursday, October 9th. Benchmark reaffirmed a "buy" rating on shares of Green Thumb Industries in a report on Monday, August 11th. Finally, Zacks Research lowered shares of Green Thumb Industries from a "hold" rating to a "strong sell" rating in a report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Green Thumb Industries presently has an average rating of "Buy".

Green Thumb Industries Stock Performance

The stock's 50 day moving average price is $8.21 and its 200 day moving average price is $6.50. The company has a market capitalization of $1.64 billion, a P/E ratio of 71.73 and a beta of 1.20.

Green Thumb Industries (OTCMKTS:GTBIF - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $293.26 million for the quarter, compared to analyst estimates of $280.66 million. On average, analysts expect that Green Thumb Industries Inc. will post 0.32 earnings per share 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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