Green Thumb Industries Inc. (OTCMKTS:GTBIF) Short Interest Down 34.6% in August

Key Points

• Short interest fell 34.6% in August to 170,063 shares from 260,067 shares, representing just 0.1% of Green Thumb Industries’ shares and a short-interest ratio of 0.2 days.
• Analysts maintain a favorable outlook, with a consensus “Buy” rating and an $18.00 average price target.
• Green Thumb reported quarterly revenue of $306.68 million and earnings of $0.02 per share, exceeding analyst estimates; shares recently traded at $7.38.

Green Thumb Industries Inc. (OTCMKTS:GTBIF - Get Free Report) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 170,063 shares, a decline of 34.6% from the August 15th total of 260,067 shares. Based on an average trading volume of 807,875 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the company's shares are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Roth Capital set a $18.00 price objective on Green Thumb Industries in a report on Wednesday, August 5th. Seaport Research Partners reaffirmed a "buy" rating and issued a $18.00 price target on shares of Green Thumb Industries in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $18.00.

Green Thumb Industries Stock Down 0.1%

Shares of OTCMKTS GTBIF traded down $0.01 during midday trading on Thursday, hitting $7.38. 37,340 shares of the company's stock were exchanged, compared to its average volume of 540,237. The company's 50 day moving average price is $7.31 and its 200 day moving average price is $7.26. Green Thumb Industries has a 12 month low of $5.29 and a 12 month high of $10.43. The firm has a market capitalization of $1.44 billion, a PE ratio of 13.67 and a beta of 1.27.

Green Thumb Industries (OTCMKTS:GTBIF - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. Green Thumb Industries had a net margin of 10.48% and a return on equity of 6.03%. The business had revenue of $306.68 million during the quarter, compared to the consensus estimate of $298.99 million. On average, equities research analysts anticipate that Green Thumb Industries will post 0.16 EPS for the current year.

About Green Thumb Industries

Green Thumb Industries Inc is a consumer-focused cannabis company that cultivates, manufactures and distributes cannabis products in the United States. Its product portfolio includes flower, pre-rolls, vapes, edibles, concentrates and other cannabis products sold under brands such as Good Green, &Shine, incredibles, Beboe and Dogwalkers.

The company also operates a national retail platform under the RISE Dispensaries name. Through its cultivation, manufacturing and retail operations, Green Thumb serves adult-use and medical cannabis markets across multiple states, including Illinois, Pennsylvania, Ohio, New Jersey, Nevada, Massachusetts, Maryland, Florida, Virginia, Connecticut and Minnesota.

Founded in 2014 and headquartered in Chicago, Green Thumb Industries has expanded through the development and acquisition of cultivation facilities, manufacturing operations and dispensary locations.

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