Green Thumb Industries (OTCMKTS:GTBIF) Shares Down 5.8% – Here’s What Happened

Shares of Green Thumb Industries Inc. (OTCMKTS:GTBIF) traded down 5.8% on Thursday . The company traded as low as $8.41 and last traded at $9.0210. 1,396,481 shares changed hands during mid-day trading, an increase of 173% from the average session volume of 511,405 shares. The stock had previously closed at $9.58.

Wall Street Analyst Weigh In

GTBIF has been the subject of several research reports. Zacks Research upgraded Green Thumb Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Canaccord Genuity Group upgraded Green Thumb Industries to a “strong-buy” rating in a report on Thursday, October 9th. One equities research 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 stock. According to data from MarketBeat.com, Green Thumb Industries presently has a consensus rating of “Buy”.

Green Thumb Industries Price Performance

The firm’s fifty day simple moving average is $7.04 and its 200 day simple moving average is $6.95. The company has a market capitalization of $1.69 billion, a PE ratio of 47.94 and a beta of 1.20.

Green Thumb Industries (OTCMKTS:GTBIF) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. Green Thumb Industries had a return on equity of 1.66% and a net margin of 3.77%.The business had revenue of $291.37 million during the quarter, compared to analysts’ expectations of $290.98 million. On average, equities research analysts anticipate that Green Thumb Industries Inc. will post 0.32 EPS for the current fiscal 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.