Green Thumb Industries (OTCMKTS:GTBIF) Shares Down 6.4% – Here’s What Happened

Green Thumb Industries Inc. (OTCMKTS:GTBIF)’s stock price dropped 6.4% during trading on Thursday . The stock traded as low as $6.75 and last traded at $6.83. Approximately 363,224 shares were traded during trading, an increase of 5% from the average daily volume of 347,188 shares. The stock had previously closed at $7.30.

Analyst Ratings Changes

Several analysts have issued reports on GTBIF shares. Canaccord Genuity Group upgraded shares of Green Thumb Industries to a “strong-buy” rating in a research report on Thursday, October 9th. Zacks Research raised Green Thumb Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. One equities 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

Green Thumb Industries Trading Down 6.4%

The stock has a market cap of $1.42 billion, a P/E ratio of 40.18 and a beta of 1.15. The company’s fifty day simple moving average is $7.64 and its 200-day simple moving average is $7.52.

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