Green Thumb Industries (OTCMKTS:GTBIF) Trading Up 5.5% - What's Next?

Key Points

• Green Thumb Industries Inc. shares rose by 5.5% to $8.56, despite a significant decline in trading volume, which was 82% lower than average.
• Analysts have given the company a consensus rating of "Buy", with Benchmark reaffirming a buy rating and Zacks upgrading from a "strong sell" to a "hold".
• The company reported a loss of $0.01 earnings per share for the last quarter, missing estimates, while revenue reached $293.26 million, exceeding expectations.

Shares of Green Thumb Industries Inc. (OTCMKTS:GTBIF - Get Free Report) were up 5.5% during trading on Tuesday . The stock traded as high as $8.58 and last traded at $8.56. Approximately 91,140 shares changed hands during trading, a decline of 82% from the average daily volume of 501,819 shares. The stock had previously closed at $8.11.

Analysts Set New Price Targets

GTBIF has been the subject of several recent analyst reports. Benchmark reaffirmed 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 note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy".

Green Thumb Industries Trading Up 6.3%

The stock has a market cap of $1.82 billion, a PE ratio of 78.37 and a beta of 1.22. The business's 50-day moving average price is $7.08 and its 200-day moving average price is $6.18.

Green Thumb Industries (OTCMKTS:GTBIF - Get Free Report) last posted 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). Green Thumb Industries had a return on equity of 1.62% and a net margin of 2.51%.The company had revenue of $293.26 million during the quarter, compared to analysts' expectations of $280.66 million. As a group, 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.

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