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

Green Thumb Industries Inc. (OTCMKTS:GTBIF)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $8.06, but opened at $8.48. Green Thumb Industries shares last traded at $8.05, with a volume of 69,134 shares traded.

Analysts Set New Price Targets

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

Green Thumb Industries Price Performance

The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 46.89 and a beta of 1.20. The business has a fifty day moving average of $7.01 and a 200 day moving average of $7.12.

Green Thumb Industries (OTCMKTS:GTBIF) last posted its earnings results on Wednesday, November 5th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $291.37 million during the quarter, compared to the consensus estimate of $290.98 million. Green Thumb Industries had a net margin of 3.77% and a return on equity of 1.66%. On average, analysts expect that Green Thumb Industries Inc. will post 0.32 EPS 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.