Green Thumb Industries (OTCMKTS:GTBIF) Shares Down 6.2% – Here’s What Happened

Green Thumb Industries Inc. (OTCMKTS:GTBIF)’s share price dropped 6.2% during mid-day trading on Monday . The stock traded as low as $7.01 and last traded at $7.13. Approximately 614,480 shares changed hands during trading, an increase of 10% from the average session volume of 560,277 shares. The stock had previously closed at $7.60.

Wall Street Analyst Weigh In

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

Green Thumb Industries Stock Up 2.2%

The business has a 50-day simple moving average of $7.73 and a 200-day simple moving average of $7.32. The stock has a market cap of $1.53 billion, a P/E ratio of 14.42 and a beta of 1.25.

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