Green Thumb Industries (OTCMKTS:GTBIF) Shares Down 7.2% - Here's Why

Key Points

• Green Thumb Industries (OTCMKTS:GTBIF) experienced a stock price decrease of 7.2%, closing at $8.01 with a trading volume that was 29% lower than its average.
• Despite the decline, Benchmark has maintained a "buy" rating on the company's stock, indicating confidence from analysts.
• In its most recent earnings report, Green Thumb reported a loss of ($0.01) EPS, missing expectations, but generated revenue of $293.26 million against a forecast of $280.66 million.

Green Thumb Industries Inc. (OTCMKTS:GTBIF - Get Free Report) dropped 7.2% during trading on Friday . The stock traded as low as $8.01 and last traded at $8.01. Approximately 340,630 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 482,912 shares. The stock had previously closed at $8.63.

Analysts Set New Price Targets

Separately, Benchmark reiterated a "buy" rating on shares of Green Thumb Industries in a report on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Strong Buy".

Green Thumb Industries Trading Up 7.7%

The stock has a 50 day simple moving average of $6.18 and a 200-day simple moving average of $6.06. The firm has a market capitalization of $1.69 billion, a P/E ratio of 72.46 and a beta of 1.18.

Green Thumb Industries (OTCMKTS:GTBIF - Get Free Report) last released its quarterly 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). The firm had revenue of $293.26 million for the quarter, compared to the consensus estimate of $280.66 million. Green Thumb Industries had a net margin of 2.51% and a return on equity of 1.62%. As a group, sell-side analysts expect 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.