In a report released yesterday, Owen Bennett from Jefferies maintained a Buy rating on Green Thumb Industries (GTBIF – Research Report), with a price target of C$63.00. The company’s shares closed last Thursday at $11.95, close to its 52-week low of $11.73.
According to TipRanks.com, Bennett is ranked #7506 out of 7891 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Green Thumb Industries with a $37.25 average price target, implying a 185.4% upside from current levels. In a report released yesterday, BTIG also maintained a Buy rating on the stock with a C$45.00 price target.
Based on Green Thumb Industries’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $244 million and net profit of $22.81 million. In comparison, last year the company earned revenue of $177 million and had a net profit of $22.46 million.
Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GTBIF in relation to earlier this year.
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Green Thumb Industries is headquartered in Chicago, Illinois, and produces and sells medicinal and recreational cannabis through wholesale and retail channels in the United States. It has a presence in 12 states and operates over 30 cannabis stores under the chains Rise and Essence. Green Thumb is focusing its expansion on limited license states with large populations, and it does not currently export into the global medical market due to U.S. federal prohibition. It offers multiple products under a portfolio of cannabis consumer packaged goods brands, including Dr. Solomon’s, Dogwalkers, and Beboe.
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