Green Thumb Industries (OTCMKTS:GTBIF) Shares Gap Up – Still a Buy?

Shares of Green Thumb Industries Inc. (OTCMKTS:GTBIF) gapped up before the market opened on Friday . The stock had previously closed at $7.99, but opened at $8.58. Green Thumb Industries shares last traded at $8.45, with a volume of 231,193 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Zacks Research upgraded shares of Green Thumb Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Canaccord Genuity Group raised Green Thumb Industries to a “strong-buy” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Green Thumb Industries Stock Performance

The firm has a market capitalization of $1.69 billion, a PE ratio of 47.94 and a beta of 1.20. The firm’s 50 day moving average price is $7.04 and its 200-day moving average price is $6.97.

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, topping analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $291.37 million for the quarter, compared to the consensus estimate of $290.98 million. Green Thumb Industries had a return on equity of 1.66% and a net margin of 3.77%. On average, equities research analysts expect that Green Thumb Industries Inc. will post 0.32 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.