Green Thumb Industries (OTCMKTS:GTBIF) Shares Up 8% – Here’s What Happened

Shares of Green Thumb Industries Inc. (OTCMKTS:GTBIF) traded up 8% on Tuesday . The stock traded as high as $9.31 and last traded at $9.07. 385,207 shares changed hands during trading, a decline of 22% from the average session volume of 494,820 shares. The stock had previously closed at $8.3950.

Analyst Upgrades and Downgrades

A number of 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 given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Green Thumb Industries has an average rating of “Buy”.

Green Thumb Industries Stock Up 10.3%

The company has a market cap of $1.92 billion, a P/E ratio of 54.47 and a beta of 1.20. The company has a 50 day moving average price of $7.02 and a 200-day moving average price of $6.88.

Green Thumb Industries (OTCMKTS:GTBIF) last announced 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 during the quarter, compared to analysts’ expectations of $290.98 million. Green Thumb Industries had a return on equity of 1.66% and a net margin of 3.77%. On average, research 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 Inc manufactures, distributes, markets, and sells of cannabis products for medical and adult-use in the United States. It operates through two segments, Retail and Consumer Packaged Goods. The company offers cannabis flower; processed and packaged products, including pre-rolls, concentrates, vapes, capsules, tinctures, edibles, topicals, and other cannabis-related products under the &Shine, Beboe, Dogwalkers, Doctor Solomon's, Good Green, incredibles, and RHYTHM brands.