Green Thumb Industries (OTCMKTS:GTBIF) Stock Price Down 6.4% – Time to Sell?

Green Thumb Industries Inc. (OTCMKTS:GTBIF)’s stock price traded down 6.4% on Thursday . The company traded as low as $6.75 and last traded at $6.83. 363,224 shares were traded during mid-day trading, an increase of 5% from the average session volume of 347,188 shares. The stock had previously closed at $7.30.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Green Thumb Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned 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”.

Green Thumb Industries Price Performance

The firm has a 50 day simple moving average of $7.67 and a two-hundred day simple moving average of $7.53. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 41.83 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 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 analysts’ expectations of $290.98 million. Green Thumb Industries had a return on equity of 1.66% and a net margin of 3.77%. On average, sell-side analysts expect that Green Thumb Industries Inc. will post 0.32 earnings per share 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.