Green Thumb Industries (OTCMKTS:GTBIF) Trading Down 4.6% – What’s Next?

Green Thumb Industries Inc. (OTCMKTS:GTBIF)’s share price fell 4.6% during mid-day trading on Thursday . The company traded as low as $8.03 and last traded at $8.08. 675,805 shares traded hands during trading, an increase of 19% from the average session volume of 567,086 shares. The stock had previously closed at $8.47.

Wall Street Analysts Forecast Growth

Separately, Benchmark reaffirmed a “buy” rating on shares of Green Thumb Industries in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

Green Thumb Industries Price Performance

The firm has a market capitalization of $1.70 billion, a P/E ratio of 16.00 and a beta of 1.25. The stock’s 50-day simple moving average is $7.47 and its two-hundred day simple moving average is $7.23.

Green Thumb Industries (OTCMKTS:GTBIF) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. Green Thumb Industries had a return on equity of 5.79% and a net margin of 10.14%.The business had revenue of $300.19 million during the quarter, compared to analyst estimates of $297.64 million. On average, analysts forecast that Green Thumb Industries Inc. will post 0.1 earnings per share 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.