Green Thumb Industries Inc. (OTCMKTS:GTBIF) Sees Significant Decrease in Short Interest

Green Thumb Industries Inc. (OTCMKTS:GTBIF) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totaling 161,250 shares, a drop of 61.1% from the April 30th total of 414,958 shares. Based on an average daily trading volume, of 902,221 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are short sold.

Green Thumb Industries Stock Up 0.7%

OTCMKTS:GTBIF opened at $8.07 on Friday. Green Thumb Industries has a 1-year low of $4.80 and a 1-year high of $10.43. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 15.82 and a beta of 1.27. The stock has a fifty day simple moving average of $7.14 and a 200 day simple moving average of $7.11.

Green Thumb Industries (OTCMKTS:GTBIF) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.07 earnings per share for the quarter, beating 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. Equities analysts predict that Green Thumb Industries will post 0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Benchmark reaffirmed a “buy” rating on shares of Green Thumb Industries in a research note 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. According to MarketBeat.com, the company currently has an average rating of “Buy”.

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.