Cannabis Co. Grown Rogue Reports 7% Increase In Q3 Revenue, Focuses On New Jersey And Illinois Expansion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 15 2024
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Source: Benzinga
Financial Performance: Grown Rogue International reported a 7% increase in revenue to $7 million for Q3 2024, but experienced a decrease in gross profit and operating cash flow due to increased expenses and pricing pressures. The net loss improved to $667,240 compared to the previous year.
Expansion Plans: The company is focusing on its expansions in New Jersey and Illinois, with product launches expected in December 2024 and ongoing construction aimed at increasing production capacity by mid-2025.
Analyst Views on GRIN
Wall Street analysts forecast GRIN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GRIN is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About GRIN
Grindrod Shipping Holdings Ltd. is a Singapore-based shipping company that owns, charters-in and operates a fleet of drybulk carriers. The Company operates the drybulk carriers’ business, which is divided into three segments: Handysize, Supramax/Ultramax, and Others. The drybulk business, which operates under the brand Island View Shipping (IVS), includes a core fleet of approximately 29 vessels, consisting of 14 handysize drybulk carriers and 15 supramax/ultramax drybulk carriers. Its drybulk carriers transport a range of major and minor bulk and breakbulk commodities, including ores, coal, grains, forestry products, steel products, and fertilizers, along worldwide shipping routes and are employed in pools of similarly sized vessels or in the spot market. Its subsidiaries include Comshipco Schiffahrtsagentur GmBH, Grindrod Shipping Pte. Ltd., Grindrod Shipping Services UK Limited, Grindrod Shipping (South Africa) (Pty) Ltd, IM Shipping Pte. Ltd., and IVS Bulk Pte. Ltd., among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
