Green Thumb Industries (OTCMKTS:GTBIF) Trading Down 6.4% – What’s Next?

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

Analyst Upgrades and Downgrades

GTBIF has been the subject of several research analyst reports. Canaccord Genuity Group upgraded Green Thumb Industries to a “strong-buy” rating in a report on Thursday, October 9th. Zacks Research upgraded Green Thumb Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy”.

Green Thumb Industries Stock Down 6.4%

The company has a 50 day simple moving average of $7.64 and a two-hundred day simple moving average of $7.52. The company has a market capitalization of $1.42 billion, a P/E ratio of 40.18 and a beta of 1.15.

Green Thumb Industries (OTCMKTS:GTBIF) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.04 earnings per share (EPS) 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 analyst estimates of $290.98 million. Green Thumb Industries had a return on equity of 1.66% and a net margin of 3.77%. As a group, research analysts expect that Green Thumb Industries Inc. will post 0.32 EPS for the current fiscal 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.