Green Thumb Industries Inc. (OTCMKTS:GTBIF) Short Interest Update

Key Points

• Short interest surged 2,735.4% in September to 4,821,938 shares, representing about 2.7% of Green Thumb Industries’ outstanding shares and a days-to-cover ratio of 5.3.
• GTBIF shares fell 4.8% to $7.70 during mid-day trading, while the company’s market capitalization stood at approximately $1.50 billion.
• Green Thumb exceeded quarterly expectations, reporting $0.02 in EPS and $306.68 million in revenue; analysts maintain a consensus “Buy” rating with an average price target of $18.00.

Green Thumb Industries Inc. (OTCMKTS:GTBIF - Get Free Report) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 4,821,938 shares, a growth of 2,735.4% from the August 31st total of 170,063 shares. Based on an average daily volume of 908,782 shares, the days-to-cover ratio is currently 5.3 days. Approximately 2.7% of the company's shares are sold short.

Green Thumb Industries Stock Down 4.8%

GTBIF stock traded down $0.39 during mid-day trading on Thursday, hitting $7.70. 707,360 shares of the company were exchanged, compared to its average volume of 547,849. 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 $1.50 billion, a P/E ratio of 14.26 and a beta of 1.27. The business has a fifty day simple moving average of $7.33 and a 200-day simple moving average of $7.30.

Green Thumb Industries (OTCMKTS:GTBIF - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $306.68 million for the quarter, compared to analyst estimates of $298.99 million. Research analysts predict that Green Thumb Industries will post 0.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GTBIF. Roth Capital set a $18.00 target price on shares of Green Thumb Industries in a research note on Wednesday, August 5th. Seaport Research Partners reaffirmed a "buy" rating and set a $18.00 price target on shares of Green Thumb Industries in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $18.00.

Green Thumb Industries Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.