Short Interest in Green Thumb Industries Inc. (OTCMKTS:GTBIF) Declines By 68.9%

Key Points

• Short interest in Green Thumb Industries fell sharply in July, dropping 68.9% to 48,944 shares as of July 15 from 157,417 shares at the end of June.
• The stock was down 1.4% to $7.02, trading below its 50-day average of $7.57 but slightly above its 200-day average of $7.26.
• Green Thumb Industries recently beat quarterly earnings estimates, reporting EPS of $0.07 versus $0.02 expected, while analysts currently rate the stock an average Buy.

Green Thumb Industries Inc. (OTCMKTS:GTBIF - Get Free Report) saw a large decrease in short interest in July. As of July 15th, there was short interest totaling 48,944 shares, a decrease of 68.9% from the June 30th total of 157,417 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 1,342,112 shares, the days-to-cover ratio is presently 0.0 days.

Green Thumb Industries Stock Down 1.4%

GTBIF stock opened at $7.02 on Friday. The stock has a 50-day simple moving average of $7.57 and a two-hundred day simple moving average of $7.26. Green Thumb Industries has a twelve month low of $5.29 and a twelve month high of $10.43. The firm has a market capitalization of $1.37 billion, a PE ratio of 13.76 and a beta of 1.25.

Green Thumb Industries (OTCMKTS:GTBIF - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.05. Green Thumb Industries had a net margin of 10.14% and a return on equity of 5.79%. The firm had revenue of $300.19 million for the quarter, compared to the consensus estimate of $297.64 million. On average, equities research analysts anticipate that Green Thumb Industries will post 0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Benchmark reiterated a "buy" rating on shares of Green Thumb Industries in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy".

About Green Thumb Industries

Green Thumb Industries is a diversified cannabis consumer packaged goods company and retailer with operations spanning cultivation, manufacturing and distribution. The company develops branded cannabis products across multiple formats, including dried flower, pre-rolls, oils, concentrates, edibles and vaporizers. Its product portfolio is marketed under well-known brand names tailored to the adult-use market, and the company works with licensed cultivators and partners to ensure consistent quality and compliance with state regulations.

In addition to its branded product lines, Green Thumb Industries maintains a network of wholly owned manufacturing facilities and distribution centers that supply its retail outlets as well as independent dispensaries.

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