Short Interest in Green Thumb Industries Inc. (OTCMKTS:GTBIF) Increases By 203.9%

Green Thumb Industries Inc. (OTCMKTS:GTBIF) was the recipient of a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 93,600 shares, a growth of 203.9% from the July 31st total of 30,800 shares. Based on an average daily volume of 724,100 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GTBIF. Ventum Cap Mkts upgraded Green Thumb Industries to a “strong-buy” rating in a research report on Tuesday, August 6th. Needham & Company LLC raised their price target on Green Thumb Industries from $15.50 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, Wedbush raised their price target on Green Thumb Industries from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th.

Green Thumb Industries Stock Performance

Shares of GTBIF traded down $0.30 on Thursday, reaching $9.38. The stock had a trading volume of 403,783 shares, compared to its average volume of 492,774. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 39.06 and a beta of 1.41. The company has a 50-day simple moving average of $11.25 and a 200-day simple moving average of $12.24. Green Thumb Industries has a 12-month low of $6.70 and a 12-month high of $16.33.

Green Thumb Industries (OTCMKTS:GTBIF) last released its earnings results on Monday, August 5th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $280.15 million during the quarter, compared to analysts’ expectations of $277.01 million. Green Thumb Industries had a return on equity of 3.39% and a net margin of 5.38%. On average, analysts expect that Green Thumb Industries will post 0.32 EPS for the current fiscal year.

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.