Green Thumb Industries (OTCMKTS:GTBIF) Trading Down 4.8% - Here's What Happened

Key Points

• Green Thumb Industries Inc. saw its stock price decline by 4.8%, closing at $8.38 after trading as low as $8.32 on heightened trading volume.
• The company reported a loss per share of ($0.01) in its latest earnings results, missing the consensus estimate of $0.04, although it achieved revenue of $293.26 million, exceeding analyst expectations.
• Despite recent downturns, Green Thumb Industries maintains a consensus rating of "Strong Buy" from analysts, with two holding a Strong Buy rating and one a Buy rating.

Green Thumb Industries Inc. (OTCMKTS:GTBIF - Get Free Report) traded down 4.8% during trading on Wednesday . The stock traded as low as $8.32 and last traded at $8.38. 140,527 shares were traded during trading, a decline of 72% from the average session volume of 506,446 shares. The stock had previously closed at $8.80.

Wall Street Analyst Weigh In

Separately, Benchmark reaffirmed a "buy" rating on shares of Green Thumb Industries in a research note on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Strong Buy".

Green Thumb Industries Stock Down 1.9%

The stock has a 50 day simple moving average of $7.03 and a 200 day simple moving average of $6.17. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 73.74 and a beta of 1.22.

Green Thumb Industries (OTCMKTS:GTBIF - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.01) 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 firm had revenue of $293.26 million during the quarter, compared to analyst estimates of $280.66 million. Equities analysts expect that Green Thumb Industries Inc. will post 0.32 earnings per share for the current 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.