Green Thumb Industries (OTCMKTS:GTBIF) Stock Price Up 5.4% – Here’s Why

Shares of Green Thumb Industries Inc. (OTCMKTS:GTBIF) shot up 5.4% on Tuesday . The company traded as high as $8.25 and last traded at $7.9865. 716,342 shares were traded during trading, an increase of 35% from the average session volume of 530,014 shares. The stock had previously closed at $7.58.

Wall Street Analyst Weigh In

Several research firms have commented on GTBIF. Zacks Research raised Green Thumb Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Canaccord Genuity Group upgraded shares of Green Thumb Industries to a “strong-buy” rating in a research note 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Green Thumb Industries Price Performance

The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 47.89 and a beta of 1.20. The firm’s fifty day moving average is $7.00 and its 200-day moving average is $7.02.

Green Thumb Industries (OTCMKTS:GTBIF) last announced 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 firm had revenue of $291.37 million for 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 EPS for the current 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.