Green Thumb Industries Inc. (OTCMKTS:GTBIF) Sees Large Decline in Short Interest

Green Thumb Industries Inc. (OTCMKTS:GTBIF - Get Free Report) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 449,300 shares, a decline of 5.2% from the August 15th total of 473,700 shares. Based on an average daily volume of 759,100 shares, the days-to-cover ratio is currently 0.6 days.

Green Thumb Industries Price Performance

GTBIF opened at $11.30 on Tuesday. The business has a fifty day simple moving average of $7.98 and a 200 day simple moving average of $7.75. The company has a market capitalization of $2.68 billion, a PE ratio of -125.56 and a beta of 1.68. Green Thumb Industries has a 1 year low of $6.42 and a 1 year high of $16.50.

Green Thumb Industries (OTCMKTS:GTBIF - Get Free Report) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $252.39 million during the quarter, compared to the consensus estimate of $250.79 million. Green Thumb Industries had a negative net margin of 1.85% and a positive return on equity of 2.60%. Equities analysts anticipate that Green Thumb Industries will post 0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GTBIF has been the subject of several research analyst reports. Stifel Nicolaus reduced their target price on Green Thumb Industries from C$30.00 to C$22.00 in a research note on Monday, July 31st. Alliance Global Partners reduced their target price on Green Thumb Industries from C$21.00 to C$19.00 in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $20.20.

About Green Thumb Industries

Green Thumb Industries Inc engages in the manufacture, distribution, and sale of various cannabis products for medical and adult-use in the United States. 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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