Green Thumb Industries (OTCMKTS:GTBIF) Shares Gap Down – Should You Sell?

Green Thumb Industries Inc. (OTCMKTS:GTBIF) gapped down before the market opened on Wednesday . The stock had previously closed at $8.77, but opened at $8.40. Green Thumb Industries shares last traded at $8.40, with a volume of 8,494 shares.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GTBIF shares. Zacks Research raised Green Thumb Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Canaccord Genuity Group raised 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 given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy”.

Green Thumb Industries Stock Down 0.0%

The business has a 50-day simple moving average of $7.21 and a two-hundred day simple moving average of $7.34. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 49.39 and a beta of 1.15.

Green Thumb Industries (OTCMKTS:GTBIF) last issued its quarterly earnings results 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. The company had revenue of $291.37 million for the quarter, compared to analysts’ expectations of $290.98 million. Green Thumb Industries had a return on equity of 1.66% and a net margin of 3.77%. On average, analysts forecast that Green Thumb Industries Inc. will post 0.32 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.