Green Thumb Industries (OTCMKTS:GTBIF) Shares Gap Down – Here’s Why

Green Thumb Industries Inc. (OTCMKTS:GTBIF) shares gapped down before the market opened on Friday . The stock had previously closed at $7.51, but opened at $7.31. Green Thumb Industries shares last traded at $7.5275, with a volume of 12,375 shares.

Analyst Ratings Changes

A number of equities analysts have issued reports on GTBIF shares. Benchmark reaffirmed a “buy” rating on shares of Green Thumb Industries in a research note on Thursday, May 7th. Seaport Research Partners reaffirmed a “buy” rating and set a $18.00 price objective on shares of Green Thumb Industries in a research note on Thursday, August 6th. Finally, Roth Capital set a $18.00 price objective on Green Thumb Industries in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $18.00.

Green Thumb Industries Stock Performance

The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 14.09 and a beta of 1.26. The business’s 50-day moving average is $7.30 and its two-hundred day moving average is $7.15.

Green Thumb Industries (OTCMKTS:GTBIF) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $306.68 million for the quarter, compared to analyst estimates of $298.99 million. Green Thumb Industries had a net margin of 10.48% and a return on equity of 6.03%. Analysts forecast that Green Thumb Industries Inc. will post 0.16 EPS for the current year.

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.