Green Thumb Industries (OTCMKTS:GTBIF) Shares Down 7.9% – What’s Next?

Green Thumb Industries Inc. (OTCMKTS:GTBIF)’s share price fell 7.9% on Wednesday . The company traded as low as $6.68 and last traded at $6.6925. 525,912 shares changed hands during trading, a decline of 6% from the average session volume of 560,532 shares. The stock had previously closed at $7.27.

Wall Street Analyst Weigh In

GTBIF has been the topic of a number of analyst reports. Roth Capital set a $18.00 price objective on shares of Green Thumb Industries in a research report on Wednesday. Benchmark reissued a “buy” rating on shares of Green Thumb Industries in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $18.00.

Green Thumb Industries Stock Down 7.5%

The company has a market capitalization of $1.31 billion, a PE ratio of 13.18 and a beta of 1.26. The business has a 50 day simple moving average of $7.54 and a 200 day simple moving average of $7.19.

Green Thumb Industries (OTCMKTS:GTBIF) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Green Thumb Industries had a return on equity of 5.79% and a net margin of 10.14%.The business had revenue of $306.68 million for the quarter, compared to analyst estimates of $298.99 million. Equities analysts expect that Green Thumb Industries Inc. will post 0.1 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.