Green Thumb Industries (OTCMKTS:GTBIF) Stock Price Down 6.8% - What's Next?

Key Points

• Green Thumb Industries Inc. (GTBIF) experienced a significant drop of 6.8% in its stock price, closing at $7.95, following a previous close of $8.53.
• Despite the decline, analysts maintain an overall positive outlook, with an average rating of "Buy" and some upgrades in recent reports.
• In their latest quarterly earnings, Green Thumb reported revenues of $293.26 million, exceeding expectations, but missed earnings per share estimates by ($0.05).

Green Thumb Industries Inc. (OTCMKTS:GTBIF - Get Free Report)'s stock price was down 6.8% during mid-day trading on Wednesday . The stock traded as low as $7.92 and last traded at $7.95. Approximately 201,416 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 501,441 shares. The stock had previously closed at $8.53.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GTBIF shares. Benchmark reissued a "buy" rating on shares of Green Thumb Industries in a research report on Monday, August 11th. Zacks Research raised Green Thumb Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Green Thumb Industries currently has an average rating of "Buy".

Green Thumb Industries Stock Performance

The stock has a 50-day moving average price of $7.30 and a two-hundred day moving average price of $6.20. The stock has a market capitalization of $1.50 billion, a PE ratio of 64.28 and a beta of 1.22.

Green Thumb Industries (OTCMKTS:GTBIF - Get Free Report) last posted its quarterly earnings results 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 return on equity of 1.62% and a net margin of 2.51%.The business had revenue of $293.26 million during the quarter, compared to analysts' expectations of $280.66 million. As a group, equities analysts predict that Green Thumb Industries Inc. will post 0.32 earnings per share for the current 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.