Short Interest in Green Thumb Industries Inc. (OTCMKTS:GTBIF) Drops By 21.3%

Green Thumb Industries Inc. (OTCMKTS:GTBIF) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 34,000 shares, a decline of 21.3% from the October 15th total of 43,200 shares. Based on an average daily volume of 547,300 shares, the days-to-cover ratio is currently 0.1 days.

Green Thumb Industries Price Performance

Green Thumb Industries stock traded up $0.32 during mid-day trading on Friday, hitting $9.61. The company’s stock had a trading volume of 286,728 shares, compared to its average volume of 465,057. Green Thumb Industries has a 52-week low of $7.50 and a 52-week high of $16.33. The company has a market cap of $2.03 billion, a PE ratio of 35.59 and a beta of 1.40. The firm’s 50 day moving average is $10.23 and its 200 day moving average is $11.01.

Green Thumb Industries (OTCMKTS:GTBIF) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $286.87 million during the quarter, compared to analysts’ expectations of $283.96 million. Green Thumb Industries had a return on equity of 3.39% and a net margin of 5.38%. As a group, analysts forecast that Green Thumb Industries will post 0.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GTBIF shares. Craig Hallum raised Green Thumb Industries to a “strong-buy” rating in a research note on Monday, September 16th. Roth Capital raised Green Thumb Industries to a “strong-buy” rating in a research note on Sunday, November 10th. Finally, Ventum Cap Mkts raised shares of Green Thumb Industries to a “strong-buy” rating in a research note on Tuesday, August 6th. Three analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Green Thumb Industries has a consensus rating of “Strong Buy” and a consensus price target of $16.50.

About Green Thumb Industries

Green Thumb Industries Inc manufactures, distributes, markets, and sells of cannabis products for medical and adult-use in the United States. It operates through two segments, Retail and Consumer Packaged Goods. The company offers cannabis flower; processed and packaged products, including pre-rolls, concentrates, vapes, capsules, tinctures, edibles, topicals, and other cannabis-related products under the &Shine, Beboe, Dogwalkers, Doctor Solomon's, Good Green, incredibles, and RHYTHM brands.