Green Thumb Industries (OTCMKTS:GTBIF) Shares Gap Down – What’s Next?

Green Thumb Industries Inc. (OTCMKTS:GTBIF) shares gapped down before the market opened on Friday . The stock had previously closed at $7.31, but opened at $7.03. Green Thumb Industries shares last traded at $7.3340, with a volume of 25,744 shares traded.

Analysts Set New Price Targets

GTBIF has been the subject of several recent research reports. Seaport Research Partners restated a “buy” rating and issued a $18.00 price target on shares of Green Thumb Industries in a research report on Thursday, August 6th. Roth Capital set a $18.00 price objective on shares of Green Thumb Industries in a research note on Wednesday, August 5th. Finally, Benchmark restated a “buy” rating on shares of Green Thumb Industries in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Green Thumb Industries presently has an average rating of “Buy” and a consensus target price of $18.00.

Green Thumb Industries Price Performance

The company has a fifty day moving average of $7.41 and a 200 day moving average of $7.14. The firm has a market capitalization of $1.43 billion, a P/E ratio of 13.54 and a beta of 1.26.

Green Thumb Industries (OTCMKTS:GTBIF) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. Green Thumb Industries had a net margin of 10.48% and a return on equity of 6.03%. The firm had revenue of $306.68 million during the quarter, compared to analyst estimates of $298.99 million. On average, sell-side analysts forecast that Green Thumb Industries Inc. will post 0.15 EPS for the current 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.