Green Thumb Industries (OTCMKTS:GTBIF) Shares Gap Down – Here’s What Happened

Green Thumb Industries Inc. (OTCMKTS:GTBIF)’s share price gapped down before the market opened on Friday . The stock had previously closed at $8.14, but opened at $7.88. Green Thumb Industries shares last traded at $8.0076, with a volume of 24,488 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Zacks Research upgraded 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 report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Green Thumb Industries Price Performance

The company has a market cap of $1.66 billion, a P/E ratio of 46.99 and a beta of 1.20. The business’s 50 day moving average price is $7.00 and its 200-day moving average price is $7.06.

Green Thumb Industries (OTCMKTS:GTBIF) last released its earnings results on Wednesday, November 5th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Green Thumb Industries had a return on equity of 1.66% and a net margin of 3.77%.The company had revenue of $291.37 million during the quarter, compared to the consensus estimate of $290.98 million. As a group, research analysts forecast that Green Thumb Industries Inc. will post 0.32 EPS for the current 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.