Green Thumb Industries (OTCMKTS:GTBIF) Trading 4.1% Higher - Here's What Happened

Key Points

• Green Thumb Industries shares rose 4.1% to $7.832 during mid-day trading, with volume reaching approximately 633,894 shares—17% above its average daily volume.
• Analysts maintain a favorable outlook, with a consensus “Buy” rating and an average price target of $18.00, substantially above the recent trading price.
• The company exceeded quarterly expectations, reporting $0.02 EPS versus $0.01 expected and revenue of $306.68 million compared with the $298.99 million consensus estimate.

Shares of Green Thumb Industries Inc. (OTCMKTS:GTBIF - Get Free Report) were up 4.1% during mid-day trading on Wednesday . The stock traded as high as $7.87 and last traded at $7.8320. Approximately 633,894 shares changed hands during mid-day trading, an increase of 17% from the average daily volume of 541,721 shares. The stock had previously closed at $7.52.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Roth Capital set a $18.00 target price on Green Thumb Industries in a report on Wednesday, August 5th. Seaport Research Partners reiterated 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 investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Green Thumb Industries has a consensus rating of "Buy" and an average price target of $18.00.

Green Thumb Industries Stock Performance

The company has a 50 day moving average of $7.31 and a 200 day moving average of $7.29. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 15.01 and a beta of 1.27.

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

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.

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