Green Thumb Industries (OTCMKTS:GTBIF) Shares Gap Down – Time to Sell?

Green Thumb Industries Inc. (OTCMKTS:GTBIF)’s share price gapped down prior to trading on Friday . The stock had previously closed at $8.01, but opened at $7.65. Green Thumb Industries shares last traded at $8.01, with a volume of 23,036 shares changing hands.

Wall Street Analyst Weigh In

Separately, Benchmark reiterated a “buy” rating on shares of Green Thumb Industries in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

Green Thumb Industries Price Performance

The firm has a 50 day simple moving average of $7.11 and a two-hundred day simple moving average of $7.10. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 15.88 and a beta of 1.27.

Green Thumb Industries (OTCMKTS:GTBIF) last released its earnings results on Wednesday, May 6th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.05. Green Thumb Industries had a return on equity of 5.79% and a net margin of 10.14%.The firm had revenue of $300.19 million for the quarter, compared to analyst estimates of $297.64 million. On average, sell-side analysts expect that Green Thumb Industries Inc. will post 0.1 earnings per share for the current fiscal 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.