Green Thumb Industries (OTCMKTS:GTBIF) Shares Gap Down – Time to Sell?

Green Thumb Industries Inc. (OTCMKTS:GTBIF)’s share price gapped down prior to trading 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Canaccord Genuity Group raised Green Thumb Industries to a “strong-buy” rating in a report on Thursday, October 9th. Zacks Research upgraded shares of Green Thumb Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. One investment 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 stock. Based on data from MarketBeat.com, Green Thumb Industries currently has an average rating of “Buy”.

Green Thumb Industries Stock Performance

The stock has a market cap of $1.66 billion, a P/E ratio of 47.12 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 $7.03.

Green Thumb Industries (OTCMKTS:GTBIF) last posted its quarterly 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. The business had revenue of $291.37 million during 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, equities research analysts expect that Green Thumb Industries Inc. will post 0.32 earnings per share 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.