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

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Zacks Research raised shares of Green Thumb Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Canaccord Genuity Group upgraded shares of 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 assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy”.

Green Thumb Industries Stock Performance

The firm has a market capitalization of $1.42 billion, a PE ratio of 40.18 and a beta of 1.15. The business’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 released its earnings results on Wednesday, November 5th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. Green Thumb Industries had a net margin of 3.77% and a return on equity of 1.66%. The firm had revenue of $291.37 million for the quarter, compared to the consensus estimate of $290.98 million. Sell-side 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.