Green Thumb Industries (OTCMKTS:GTBIF) Trading 4.1% Higher – Here’s What Happened

Shares of Green Thumb Industries Inc. (OTCMKTS:GTBIF) were up 4.1% during trading on Wednesday . The company traded as high as $7.87 and last traded at $7.8320. Approximately 633,894 shares were traded during trading, an increase of 17% from the average session volume of 541,721 shares. The stock had previously closed at $7.52.

Wall Street Analysts Forecast Growth

GTBIF has been the topic of a number of analyst reports. Roth Capital set a $18.00 price target on Green Thumb Industries in a research note on Wednesday, August 5th. Seaport Research Partners reiterated a “buy” rating and issued a $18.00 price objective on shares of Green Thumb Industries in a report on Thursday, August 6th. One 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $18.00.

Green Thumb Industries Stock Performance

The business has a 50-day moving average of $7.31 and a 200-day moving average of $7.29. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 15.01 and a beta of 1.27.

Green Thumb Industries (OTCMKTS:GTBIF) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $306.68 million during the quarter, compared to analysts’ expectations of $298.99 million. Green Thumb Industries had a return on equity of 6.03% and a net margin of 10.48%. On average, research analysts predict that Green Thumb Industries Inc. will post 0.16 earnings per share for the current fiscal year.

Green Thumb Industries Company Profile

Green Thumb Industries Inc is a consumer-focused cannabis company that cultivates, manufactures and distributes cannabis products in the United States. Its product portfolio includes flower, pre-rolls, vapes, edibles, concentrates and other cannabis products sold under brands such as Good Green, &Shine, incredibles, Beboe and Dogwalkers.

The company also operates a national retail platform under the RISE Dispensaries name. Through its cultivation, manufacturing and retail operations, Green Thumb serves adult-use and medical cannabis markets across multiple states, including Illinois, Pennsylvania, Ohio, New Jersey, Nevada, Massachusetts, Maryland, Florida, Virginia, Connecticut and Minnesota.

Founded in 2014 and headquartered in Chicago, Green Thumb Industries has expanded through the development and acquisition of cultivation facilities, manufacturing operations and dispensary locations.