Green Thumb Industries (OTCMKTS:GTBIF) Stock Price Down 7.9% – Should You Sell?

Green Thumb Industries Inc. (OTCMKTS:GTBIF)’s share price traded down 7.9% during trading on Wednesday . The company traded as low as $6.68 and last traded at $6.6925. 525,912 shares traded hands during trading, a decline of 6% from the average session volume of 560,532 shares. The stock had previously closed at $7.27.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GTBIF. Seaport Research Partners reaffirmed a “buy” rating and issued a $18.00 target price on shares of Green Thumb Industries in a research report on Thursday. Roth Capital set a $18.00 price target on Green Thumb Industries in a research report on Wednesday. Finally, Benchmark reaffirmed a “buy” rating on shares of Green Thumb Industries in a research report on Thursday, May 7th. One 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 stock. According to data from MarketBeat.com, Green Thumb Industries currently has a consensus rating of “Buy” and an average target price of $18.00.

Green Thumb Industries Trading Up 0.1%

The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 12.81 and a beta of 1.26. The company’s 50 day moving average is $7.50 and its 200-day moving average is $7.17.

Green Thumb Industries (OTCMKTS:GTBIF) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $306.68 million for the quarter, compared to the consensus estimate of $298.99 million. Research analysts expect that Green Thumb Industries Inc. will post 0.11 EPS for the current year.

Green Thumb Industries Company Profile

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.