Green Thumb Industries (OTCMKTS:GTBIF) Shares Up 5.4% – Should You Buy?

Green Thumb Industries Inc. (OTCMKTS:GTBIF)’s share price rose 5.4% on Tuesday . The company traded as high as $8.25 and last traded at $7.9865. Approximately 716,342 shares changed hands during mid-day trading, an increase of 35% from the average daily volume of 530,014 shares. The stock had previously closed at $7.58.

Analysts Set New Price Targets

GTBIF has been the topic of several recent research reports. Canaccord Genuity Group upgraded Green Thumb Industries to a “strong-buy” rating in a research report on Thursday, October 9th. Zacks Research raised 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Green Thumb Industries has an average rating of “Buy”.

Green Thumb Industries Trading Up 4.9%

The company’s 50-day moving average is $7.01 and its 200 day moving average is $7.00. The stock has a market capitalization of $1.65 billion, a PE ratio of 46.77 and a beta of 1.20.

Green Thumb Industries (OTCMKTS:GTBIF) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $291.37 million for 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%. Sell-side analysts forecast that Green Thumb Industries Inc. will post 0.32 EPS for the current fiscal 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.