Green Thumb Industries (OTCMKTS:GTBIF) Shares Gap Up - Time to Buy?

Key Points

• Green Thumb Industries' stock opened at $9.39, up from a previous close of $8.81, indicating a positive market reaction with 71,981 shares traded.
• Analysts have a strong outlook for the company, with a consensus rating of "Strong Buy" from three analysts, including two with a Strong Buy distinction.
• In its latest earnings report, Green Thumb Industries missed earnings per share expectations but reported revenue of $293.26 million, exceeding analyst projections.

Green Thumb Industries Inc. (OTCMKTS:GTBIF - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $8.81, but opened at $9.39. Green Thumb Industries shares last traded at $9.15, with a volume of 71,981 shares traded.

Wall Street Analysts Forecast Growth

Separately, Benchmark reaffirmed a "buy" rating on shares of Green Thumb Industries in a report on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Strong Buy".

Green Thumb Industries Stock Up 1.3%

The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 80.01 and a beta of 1.22. The company's 50-day moving average price is $6.78 and its 200-day moving average price is $6.13.

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 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 during the quarter, compared to analysts' expectations of $280.66 million. Analysts predict that Green Thumb Industries Inc. will post 0.32 earnings per share 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.