Green Thumb Industries (OTCMKTS:GTBIF) Posts Quarterly Earnings Results

Green Thumb Industries (OTCMKTS:GTBIF) released its quarterly earnings results on Wednesday. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05), Zacks reports. Green Thumb Industries had a net margin of 10.48% and a return on equity of 6.03%.

Green Thumb Industries Stock Down 2.1%

Green Thumb Industries stock traded down $0.14 during trading hours on Wednesday, hitting $6.56. 436,421 shares of the company traded hands, compared to its average volume of 540,818. Green Thumb Industries has a 1-year low of $5.29 and a 1-year high of $10.43. The firm has a market cap of $1.30 billion, a P/E ratio of 12.15 and a beta of 1.29. The firm’s 50-day simple moving average is $7.02 and its two-hundred day simple moving average is $7.15.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GTBIF shares. Seaport Research Partners reissued a “buy” rating and issued a $18.00 price objective on shares of Green Thumb Industries in a report on Thursday, August 6th. Roth Capital set a $18.00 target price on Green Thumb Industries in a research note on Wednesday, August 5th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.00.

Green Thumb Industries Company Profile

Green Thumb Industries Inc is a consumer packaged goods and retail cannabis company headquartered in Chicago, Illinois. Founded in 2014, the company develops, manufactures and distributes cannabis products for medical and adult-use markets, subject to applicable state regulations.

Its portfolio includes branded flower, pre-rolls, vape products, concentrates, edibles and other cannabis products sold under brands such as Good Green, &Shine, RYTHM, incredibles and Beboe. Green Thumb also operates retail cannabis dispensaries under the RISE brand, offering cannabis products and related accessories through its store network.

Green Thumb serves customers in multiple U.S.