Green Thumb Industries Inc. (OTCMKTS:GTBIF) Stock Short Interest Jumps 139.6%

Key Points

• Short interest surged 139.6% in October to 237,712 shares, though only about 0.1% of Green Thumb Industries’ shares are sold short and the days-to-cover ratio remains low at 0.3 days.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $18.00, compared with the stock’s recent opening price of $6.43.
• Green Thumb exceeded quarterly expectations, reporting adjusted earnings of $0.02 per share versus $0.01 expected and revenue of $306.68 million versus the $298.99 million consensus estimate.

Green Thumb Industries Inc. (OTCMKTS:GTBIF - Get Free Report) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 237,712 shares, an increase of 139.6% from the September 30th total of 99,211 shares. Approximately 0.1% of the company's shares are sold short. Based on an average daily trading volume, of 933,998 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Ratings Changes

Several equities research analysts recently commented on GTBIF shares. Roth Capital set a $18.00 target price on shares of Green Thumb Industries in a research report 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 note on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $18.00.

Green Thumb Industries Price Performance

Green Thumb Industries stock opened at $6.43 on Friday. The stock's 50 day moving average is $7.09 and its 200 day moving average is $7.18. The firm has a market cap of $1.27 billion, a P/E ratio of 11.91 and a beta of 1.28. Green Thumb Industries has a one year low of $5.29 and a one year high of $10.43.

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

Green Thumb Industries Company Profile

Green Thumb Industries Inc is a consumer packaged goods and retail cannabis company headquartered in Chicago, Illinois. Founded in 2014, the company develops, manufactures and distributes cannabis products for medical and adult-use markets, subject to applicable state regulations.

Its portfolio includes branded flower, pre-rolls, vape products, concentrates, edibles and other cannabis products sold under brands such as Good Green, &Shine, RYTHM, incredibles and Beboe. Green Thumb also operates retail cannabis dispensaries under the RISE brand, offering cannabis products and related accessories through its store network.

Green Thumb serves customers in multiple U.S.

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.