|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||8.05 - 8.56|
|52 Week Range||7.37 - 16.68|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||18.27|
Is the cannabis sector about to light up? Following the U.S. House Judiciary Committee's monumental decision to approve the Marijuana Opportunity Reinvestment and Expungement (MORE) Act on Nov. 20, investor focus has locked in on this area of the market.With the passage of this legislation, the cannabis industry takes a huge leap forward as the bill would remove marijuana from the Schedule I list of controlled substances as well as decriminalize it at the federal level. However, the bill wouldn't legalize the substance."Today's vote marks a turning point for federal cannabis policy, and is truly a sign that prohibition's days are numbered," executive director of the National Cannabis Industry Association Aaron Smith stated.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAs 65% of Americans support the legalization of marijuana, according to a CBS News polling conducted in April, is now the time to snap up marijuana stocks? Wall Street seems to be advocating that investors do just that.Analysts remind investors to focus on the names poised to soar through 2020. The most compelling investments can be the names making moves behind the scenes. * 7 Exciting Biotech Stocks to Buy Now Using TipRanks' Stock Screener, I was able to pinpoint five marijuana stocks that have been flying under the radar. While largely avoiding the spotlight, these names boast upside potential that demands attention. I'm talking in the triple digits.Let's dive right in. OrganiGram (OGI) Source: Shutterstock OrganiGram (NASDAQ:OGI) is feeling the heat following its fiscal fourth-quarter earnings release.During the quarter, the company posted a bottom-line miss. The net loss came in at 22.5 million CAD. The consensus estimate had pointed to a loss of only 1 cent per share. This news was even more concerning as it followed up a profit of 18.2 million CAD, or 12 cents per share, in the year-ago quarter. Management noted that an insufficient retail network as well as slower-than-expected store openings in Ontario were partly to blame for the disappointing performance.That being said, OGI still has a lot going for it. The cannabis name operates out of a single facility located in New Brunswick, making it more efficient than some of its peers. Rather than opening giant new facilities, it has placed a significant focus on producing higher-quality cannabis. Not to mention the company has received licensing approval for 17 new growing rooms, which should bring annual production capacity to 76,000 kilograms.Paradigm analyst Corey Hammill believes that this puts the company in a position to gain. OGI also stands to benefit from Cannabis 2.0, the legalization of cannabis derivative products in Canada. To this end, he reiterated his "buy" rating and $3.95 price target.Looking at the consensus breakdown, six buys and three holds add up to a "moderate buy." Its $6 average price target is the real star of the show here, though, indicating upside potential of 136%.See the OGI stock analysis. Harvest Health & Recreation (HRVSF) Source: Shutterstock "Not ideal" is the phrase being tossed around when describing Harvest Health & Recreation's (OTCMKTS:HRVSF) performance in its most recent quarter. The Arizona-based marijuana name announced its financial results for the third quarter on Nov. 20. The company reported that total revenue reached $33.2 million, up a whopping 197% from the prior-year quarter. However, adjusted EBITDA came in at a loss of $11 million, with both this figure and revenue falling below estimates.Nonetheless, Beacon's Russell Stanley reminds investors that there were positive takeaways. "We attribute the selling pressure on the stock to uncertainty with respect to Harvest's balance sheet and access to capital, and based on management's comments during this morning's conference call, we believe the company's asset base can support the additional debt required to accelerate growth," he explained.On top of this, Stanley argues that HRVSF is trading at a discount compared to other players. And several upcoming catalysts could catapult shares higher. While keeping the bullish call, he did reduce the price target to $11.29. Even at this lower target, the analyst thinks shares could skyrocket 341% in the next 12 months.It has been somewhat quiet on the Street in terms of other analyst coverage. Its "moderate buy" consensus rating is generated from the two "buys" assigned in the last three months. In addition, the $11 average price target puts the upside potential just under Stanley's forecast at 335%.See the HRVSF stock analysis. Cresco Labs (CRLBF)Source: Shutterstock Cresco Labs (OTCMKTS:CRLBF) is best known for being one of the largest vertically integrated, multi-state cannabis operators in the U.S. Its brands include Cresco, Reserve, Remedi, Mindy's and WellBeings. As one analyst is expecting big things from the company in 2020, CRLBF might not be able to keep a low profile for much longer.On the heels of its latest earnings report, shares slipped when investors learned that CRLBF missed the mark when it came to revenue. It doesn't help that the company posted a net loss of $8.6 million in the third quarter, while reporting net income of $1.2 million in the prior-year quarter.However, Cowen's Vivien Azer still sees a strong long-term growth narrative as the company stands to benefit from its recently received Chicago licenses, ahead of full adult-use legalization in Illinois. "We expect that 2020 will be a transformative year," she said. Bearing this in mind, the five-star analyst decided to stay with the bulls. In addition to the recommendation, her $9.79 price target brings the potential 12-month gain to 77%.Meanwhile, Beacon analyst Russel Stanley highlights its possible acquisition of Tryke as an area to watch. Back in October, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 lapsed, meaning that the acquisition is one step closer to being completed. "We view the development as positive, while also noting that the absence of a second request for information indicates that the DOJ's scrutiny of cannabis M&A may be moderating," Stanley wrote in a note to clients.Similarly, other analysts are optimistic when it comes to CRLBF. With five "buy" ratings issued in the last three months, the consensus is unanimous. The marijuana stock is a "strong buy." Not to mention, the $13 average price target suggests shares could soar 136% in the coming 12 months.See the CRLBF stock analysis. Sundial Growers (SNDL) Source: Shutterstock Sundial Growers (NASDAQ:SNDL) operates facilities throughout Canada and Europe. SNDL expects to hit a worldwide capacity of 95 million grams by the end of 2020.In its most recent quarter, the company was able to deliver net revenue of $33.5 million, a 74% gain on a sequential quarterly basis. On top of this, the amount of cannabis sold increased by about 70% from the second quarter of 2019. Still, its expansion efforts weighed on profits. As a result of its acquisition of United Kingdom-based agricultural indoor producer Bridge Farm in July, SNDL recorded a $97.5 million net loss.Cowen analyst Vivien Azer tells clients that while she is updating her estimates, her bullish thesis remains very much intact. "We continue to favor SNDL given its pricing architecture, modular production grow and CPG-like category management," she noted. To this end, Azer lowered the price target from $15 to $10. Despite cutting the target, she still sees 313% upside potential in store. * 7 Entertainment Stocks to Buy to Escape Holiday Blues When it comes to SNDL, the rest of the Street's take is a mixed bag. Split right down the middle, the consensus is a "moderate buy." While not quite as lofty as Azer's forecast, the $6 average price target indicates huge upside of 126%.See the SNDL stock analysis. Green Thumb Industries (GTBIF)Source: Shutterstock Unlike the other cannabis companies on our list, Green Thumb Industries (OTCMKTS:GTBIF) impressed investors with its most recent quarterly performance.Jumping 296% year-over-year, revenue for its third quarter landed at $68 million. While the company didn't see a profit, it has definitely been making progress. Net loss dropped from $22.2 million in its second quarter to $17.1 million. Adding to the good news, total operating expenses as a percentage of revenue dropped from 72.6% in Q2 to 54% in Q3.The solid performance was driven in part by its Integral Associates acquisition, as it expanded its reach in Nevada and California. Another key factor was that comparable sales for stores open at least 12 months were over 50% more than in the prior-year quarter.All of this has left Cowen's Vivien Azer very excited about GTBIF's future. As such, the five-star analyst maintained her "outperform" rating and $17.50 price target. This implies that shares could rise 88% over the next 12 months.Like Azer, Wall Street likes what it's seeing. Out of the six analysts that have published calls in the last three months, 100% were bullish. Additionally, its $19 average price target lends itself to 102% upside potential.See the GTBIF stock analysis.TipRanks offers investors the latest insight into eight different sectors by tracking the activity of over 5,000 Wall Street analysts. As of this writing, Maya Sasson did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Exciting Biotech Stocks to Buy Now * 10 of the Best Stocks to Buy Right Now From the JUST 100 List * 4 Marijuana Stocks to Own If the U.S. Legalizes Pot The post 5 Under-the-Radar Marijuana Stocks With Over 100% Upside appeared first on InvestorPlace.
CHICAGO and VANCOUVER, British Columbia, Dec. 03, 2019 -- Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods.
Cannabis stocks rallied across the board Thursday, as investors returned to the beaten-down-sector with a fresh enthusiasm, following a historic House vote in favor of a bill that would lift the federal ban on weed.
Green Thumb Industries Inc. (GTI) (CSE:GTII) (GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, today announced it will open Rise King of Prussia, its eighth retail location in Pennsylvania and 34th in the nation, on November 26. Rise King of Prussia will host an open house for the community on November 23 from 1 p.m. to 4 p.m. The open house will be held before cannabis products are on site so all are welcome to attend and meet the Rise™ team, including the General Manager and Pennsylvania Market President. “We are honored to open our eighth Rise store in Pennsylvania and to expand our footprint to Montgomery County,” said GTI Founder and Chief Executive Officer Ben Kovler.
Cannabis producer Green Thumb Industries Inc. reported higher-than-expected revenue and a loss that was wider than what Wall Street modeled. The weed seller reported a third-quarter net loss of $17.1 million, which amounts to 8 cents a share, versus a net loss of $3.3 million, or 2 cents a share in the year-ago period. Revenue rose to $68 million from $17.2 million a year ago. Analysts polled by FactSet had estimated losses of 4 cents a share and revenue of $60.4 million. U.S. shares of GTI closed up 8.5% in Wednesday trading. GTI stock has gained 19.9% this year as the S&P 500 index rose 25%.
(Bloomberg) -- An eight-month rout in pot stocks that wiped out almost two-thirds of their market value may finally have reached its bottom.A Bloomberg index tracking cannabis companies was on track toward its biggest three-day advance since the beginning of the year after six sessions of heavy losses. Among those leading gains Thursday were Canopy Growth Corp., Aurora Cannabis Inc. and Cronos Group Inc., all of which rallied more than 13%.Pot stocks hit a “floor” after Canada’s four largest companies all missed earnings estimates last week, said Neil Selfe, founder and CEO of Toronto-based investment bank Infor Financial Group Inc.“I think the crescendo of negative news came to its peak on Friday, and I can see these stocks rebounding from their lows,” he said. “I don’t think we get anywhere back to the highs, but we could see a 20% bounce from here off the lows among the Tier 1 players.”The rebound is being driven in part by investors unwinding bearish bets in stocks such as Tilray Inc., whose short interest amounts to 37% of the shares available for trading. Gains in the 20 most-shorted pot stocks cost bears $272 million as of mid-afternoon on Wednesday, according to data from financial analytics firm S3 Partners.Signs that the problems weighing on Canada’s pot giants haven’t crossed the border also are aiding the bounce-back. U.S. operators including Trulieve Cannabis Corp., Curaleaf Holdings Inc. and Green Thumb Industries Inc. have all reported strong quarterly results.“We’ve been table-pounding about the U.S. companies for the last six months and it felt like people weren’t paying attention,” said Charles Taerk, CEO of Faircourt Asset Management, which acts as an adviser to the cannabis-focused Ninepoint Alternative Health Fund. “I think to a large degree investors still think of the cannabis sector as one homogeneous group and they’re not.”However, pot stocks have a long way to go before they get anywhere near the highs they reached in the spring. As a stark illustration of how much value has been lost in the sector, Canopy’s market value reached a high of C$24 billion in April. Today, the 25 largest Canadian pot companies are worth about C$24 billion combined.And while things may be looking brighter for the industry, the problems facing some of its biggest companies haven’t gone away, Taerk said.“A week ago we had some of the major Canadian LPs significantly disappoint on both quarter-over-quarter revenue and from a cash-flow perspective,” he said. “Those issues are going to continue. Those are still realities.”To contact the reporter on this story: Kristine Owram in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Brad Olesen at email@example.com, Richard Richtmyer, Steven FrommFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Green Thumb Industries Inc. (CSE: GTII) (OTC: GTBIF ) reported Wednesday third-quarter revenue of $68 million, up by 296% on a year-over-year basis. The company posted a quarterly net loss of $17.1 million, ...
Third quarter revenue increased 296% year-over-yearExpect to generate over $200 million in total revenue for fiscal year 2019Retail expansion on pace with four new Rise™ stores.
Cannabis Countdown: Top 10 Marijuana Industry News Stories of the Week Welcome to the Cannabis Countdown . In this week’s rendition, we’ll recap and countdown the top 10 marijuana industry news stories ...
CHICAGO and VANCOUVER, British Columbia, Nov. 12, 2019 -- Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods.
Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on a sale-leaseback transaction with Green Thumb Industries Inc. (GTI) (CSE: GTII; OTCQX: GTBIF) for its licensed cannabis cultivation and processing facility in Danville, Pennsylvania. The purchase price for the property was $20.3 million (excluding transaction costs). GTI is also expected to make certain improvements to the property that will significantly enhance production capacity, for which IIP has agreed to provide reimbursement of up to $19.3 million.
Vertically integrated cannabis company Green Thumb Industries (CSE: GTII) (OTC: GTBIF) is refusing to recognize the Teamsters union at its Rock Island, Illinois cultivation facility, according to Marijuana Business Daily. The company said it refused to recognize the union because an election was not held among GTI employees. “GTI respects the rights of our employees,” the company told Marijuana Business Daily in a statement.
CHICAGO and VANCOUVER, British Columbia, Nov. 01, 2019 -- Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods.
CHICAGO and VANCOUVER, British Columbia, Oct. 31, 2019 -- Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods.
Most major cap-weighted indexes are rebalanced quarterly, semi-annually, or annually. This rebalancing consists of adding and removing securities based on market cap fluctuations throughout the quarter. ...
With the launch of what's known as Fund III, the firm is changing its name to Entourage Effect Capital, in reference to the synergistic effect produced by different cannabinoids in the human body when consumed in combination with each other. The objectives of Fund III will be primarily focused on advancing cannabis businesses as diverse as science and bioscience operators, license aggregators, vertically integrated licensed operators and retailers as well as consumer packaged goods, biotech, ag-tech, media, technology and ancillary services.
CHICAGO and VANCOUVER, British Columbia, Oct. 03, 2019 -- Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods.
With the end of 2019 coming up, the climate is changing for the cannabis industry. Canada is getting ready to enact the second stage of its legalization drive, opening markets for CBD extracts, beverages, and edibles. The Canadian market is estimated to account for 12% of global marijuana sales by the end of this year. The scale of the US market compensates for the patchwork legalization landscape; US legal cannabis will account for 80% of global sales this year, according to Arcview Market Research.Troy Dayton, CEO of Arcview, sees CBD as the driver for cannabis sales through 2024. He says, “CBD products on the shelves of grocery stores and mass merchants is just the first act in the “Cannabinoids Everywhere” phenomenon. Unlike with alcohol, coffee or other plant-sourced consumables, cannabis product marketers have more than taste and strength to work with; they also have the subtle effects of 100-plus cannabinoids other than THC. The popularity of CBD is the first inkling of things to come.”In a report released earlier this summer, retail data analytics firm Nielsen points out that the initial legalization cannabis focused on dried flower products but that the upcoming wave of new derivative products, oils, edibles, and drinks have both higher gross margins and no supply chain bottlenecks. The Nielsen report predicts the US cannabis market reaching $41 billion by 2025.So, with the market primed to expand, it’s clear that there is a lot of money to be made in marijuana stocks. The segment’s recent dip – at least three major players are at one-year lows as of yesterday – offers a savvy investor a chance to buy in at low prices and high upside potential. We’ve used TipRanks’ Stock Screener tool to find three small-cap marijuana companies with well over 100% upside potential. Let's take a closer look:Green Thumb Industries Chicago-based Green Thumb (GTBIF – Get Report) owns the Rise and Essence brands of retail cannabis outlets, with more than 50 retail stores under the Rise name and additional outlets through third-party marketers. Green Thumb’s calendar Q2 earnings release showed $44.7 million in revenues, a 60% sequential gain and a 228% year-over-year gain. Organic consumer product growth and increased store traffic powered the revenue gains. Along with fast-growing revenue, the company also boasts a strong cash position, with $83 million in liabilities more than balanced by $117 million cash on hand. CEO Ben Kolver stated of the company’s forward prospects, “Continued execution of key priorities such as… accelerated store openings, and expanded distribution of our brand portfolio, sets us up well for the future.”With operations in 12 US states, including its retail locations and 13 manufacturing facilities, Green Thumb is well positioned to take advantage of the expansion prospects in the US cannabis markets.Starting coverage of Green Thumb for Cowen in mid-September, 5-star analyst Vivien Azer specifically cites the company’s high growth potential. She writes, “We believe the company's focused operating model that favors geographic depth, and a balanced revenue approach between wholesale and retail, gives GTI the most revenue and margin potential among our MSO coverage. GTI is our favorite name among the MSOs.” Azer’s $18.50 price target suggests an upside to this stock of 122%. Ms. Azer adds that Green Thumb is a “compelling buy,” describing it as, “…currently trading at 4.2x FY20 revenue, which is a 22% discount to their MSO peers.” (To watch Azer's track record, click here)The company’s low share price and high upside are key benefits for new investors looking to get in on that expansion. GTBIF sells for just $8.30 cents per share, and the average price target, $19.75, indicates room for 138% growth. Green Thumb’s Strong Buy analyst consensus rating is based on a unanimous 7 buys assigned to the stock in the last three months. (See Green Thumb's price targets and analyst ratings on TipRanks)Supreme Cannabis CompanyFormerly Supreme Pharmaceuticals, Supreme Cannabis (SPRWF – Get Report) in September reported its fiscal Q4 number, which included sales growth of 436%, to C$19 million, and the company’s first quarterly profit of C$3.2 million. Company statements credit the high-margin strategy of focusing on premium cannabis products, and the success of its 7ACRES brand of recreational marijuana. More importantly, however, the company held production-related overhead costs down to 49% of net revenue. With sales expected to rise, the company’s firm control of costs is boon for investors.Supreme posted a C$41 million profit for fiscal 2019, and projects fiscal 2020 profits to come in between C$150 million and C$180 million. The company is positioning itself in partnership with PAX Labs, a leading provider of vaping products to the Canadian markets, giving it a foot in the door when the ‘Cannabis 2.0’ wave hits Canada later this year.CIBC analyst John Zamparo is impressed by Supreme’s niche in the cannabis industry. Initiating coverage of the stock, he writes, “Supreme Cannabis' focus on existing, premium-seeking consumers may be the most effective and yet somehow neglected strategy in the adult-use cannabis space.” Zamparo further notes that “…top-quality flower retains higher prices and is more defensive against margin compression, supporting Supreme's strategy.”With a marketing strategy based on premium product, and a compelling valuation, Zamparo gives SPRWF a buy rating and a C$2 price target. His target implies an upside of 79%. (To watch Zamparo's track record, click here)Zamparo is not along in seeing high potential in Supreme Cannabis. Canaccord 4-star analyst Matt Bottomley also initiated coverage of the stock after the earnings report, giving it a buy rating based on the solid numbers. His C$2.30 price target suggests a 107% upside for Supreme.Overall, Supreme Cannabis has a Strong Buy from the analyst consensus, based on 3 recent buy ratings. The stock is prided at a bargain, only $0.84 US, and the $2.17 average price target suggests a robust upside of 178%. (See Supreme Cannabis' price targets and analyst ratings on TipRanks)OrganiGram HoldingsOur third small-cap cannabis producer is unique. Unlike most of the Canadian marijuana producers, OrganiGram (OGI – Get Report) is based in New Brunswick, among the country’s Atlantic Maritime Provinces. And, in another departure from the cannabis norm, OrganiGram has operations in all 10 of Canada’s provinces, making it one of the few cannabis companies with a presence coast-to-coast. Most of the Canadian cannabis companies are focusing their operations on the populous regions of Ontario, Alberta, and British Columbia; OrganiGram’s foothold in the Atlantic Maritimes gives it a link to the Canadian region with the country’s highest adult-use rates. The Martimes give OrganiGram a low-competition base region, providing steady sales to support expansion in the rest of the country.OrganiGram also differentiates itself from its peers in its production methods. Most growers measure their production facilities by square footage, expanding the footprint to increase production area. OrganiGram grows vertically; in the words of CEO Greg Engel, “Where the majority of companies went with large green house expansions, our facility is three levels. We actually do vertical cultivation.” Growing vertically allows OrganiGram to get the greatest efficiency out of its 14-acre facility in Moncton, New Brunswick. The company expects to reach a production capacity of 113,000 kilograms per year by December. At that capacity, OrganiGram will enter the top-10 of Canadian cannabis producers.OrganiGram’s strong background and increasing production capacity has brought it high ratings from the Street’s analysts. Writing from Beacon Securities, Russell Stanley says the additions to the grow facility “…demonstrate continued execution against the company’s expansion plan, setting the stage for significant revenue/EBITDA growth in fiscal 2020.” He adds that the company reported C$3 million cash on the books in the last quarter, and looks forward to November’s fiscal Q4 report. Stanley’s C$15 price target suggests a one-year upside of 220% for OGI shares. (To watch Stanley's track record, click here)John Zamparo, quoted above on Supreme Cannabis, is also bullish on OGI. He writes, “The company offers one of the few opportunities to gain exposure to the cannabis space at a reasonable price. We believe Organigram has demonstrated track record of profitability, a rarity in the cannabis sector.” With profitability in mind, Zamparo initiated coverage of OGI at C$9, indicating confidence in a 92% upside.Like the stocks above, OrganiGram also has a Strong Buy from the analyst consensus. This rating is derived from 8 buys and 1 hold given in the past three months. The stock trades for $3.54, and the average price target of $9.40 suggests a hefty upside potential of 183%. (See OrganiGram's price targets and analyst ratings on TipRanks)
CHICAGO and VANCOUVER, British Columbia, Oct. 01, 2019 -- Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods.
Last week, ending on September 27, the cannabis sector was weighed down by the bears. Sector ETFs broadly ended the week in negative territory.
On Monday, Curaleaf (CURA) (CURLF) became the first company to launch medical cannabis flower products in New York. The state offers growth opportunities.
The State Medical Board of Ohio refused to include anxiety disorders and autism in Ohio’s Medical Marijuana Control Program. Will the market suffer?
Green Thumb Industries Inc. (GTI) (CSE:GTII) (GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, today announced it will open Rise Hermitage, the seventh Rise™ retail location in Pennsylvania, on September 19. Rise Hermitage will host an open house for the community on September 16 from 4 p.m. to 7 p.m. The open house will be held before cannabis products are on site so all are welcome to attend and meet the Rise™ team, including the General Manager and Pennsylvania Market President. “We’re honored to open the seventh Rise™ store in Pennsylvania and to be the first to provide cannabis to people throughout Mercer County,” said GTI Founder and Chief Executive Officer Ben Kovler.