Green Thumb Industries (OTCMKTS:GTBIF) Trading Down 6.8% - Should You Sell?

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) dropped 6.8% 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 Ratings Changes

GTBIF has been the topic of several recent analyst reports. Benchmark reiterated a "buy" rating on shares of Green Thumb Industries in a 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 company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy".

Green Thumb Industries Stock Performance

The stock has a 50 day simple moving average of $7.14 and a two-hundred day simple moving average of $6.19. The firm has a market cap of $1.68 billion, a PE ratio of 72.30 and a beta of 1.23.

Green Thumb Industries (OTCMKTS:GTBIF - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $293.26 million for the quarter, compared to analysts' expectations of $280.66 million. Green Thumb Industries had a net margin of 2.51% and a return on equity of 1.62%. Equities research analysts forecast 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.

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