Equities Analysts Offer Predictions for Greenlane Holdings, Inc.’s Q1 2022 Earnings (NASDAQ:GNLN)

Greenlane Holdings, Inc. (NASDAQ:GNLNGet Rating) – Equities research analysts at Jefferies Financial Group issued their Q1 2022 earnings per share (EPS) estimates for Greenlane in a report released on Wednesday, April 13th. Jefferies Financial Group analyst O. Bennett forecasts that the company will earn ($0.07) per share for the quarter. Jefferies Financial Group also issued estimates for Greenlane’s FY2022 earnings at ($0.14) EPS, FY2023 earnings at $0.01 EPS, FY2024 earnings at $0.25 EPS and FY2025 earnings at $0.42 EPS.

Greenlane (NASDAQ:GNLNGet Rating) last posted its quarterly earnings data on Wednesday, March 30th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.04. The firm had revenue of $56.02 million for the quarter, compared to the consensus estimate of $56.10 million. Greenlane had a negative return on equity of 18.79% and a negative net margin of 18.42%. During the same quarter in the previous year, the company earned ($0.61) EPS.

A number of other equities analysts have also recently commented on GNLN. Alliance Global Partners lowered their price target on Greenlane from $3.00 to $2.00 in a report on Thursday, March 31st. Cowen cut their price objective on Greenlane from $5.00 to $2.00 in a research report on Friday, April 1st. Zacks Investment Research upgraded Greenlane from a “sell” rating to a “hold” rating and set a $0.50 price target for the company in a research note on Wednesday, April 6th. Canaccord Genuity Group cut their price target on Greenlane from $2.00 to $1.00 and set a “buy” rating for the company in a report on Friday, April 1st. Finally, Canaccord Genuity Group decreased their price objective on Greenlane from $5.00 to $2.00 and set a “speculative buy” rating on the stock in a research report on Friday, March 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $2.83.

Greenlane stock opened at $0.45 on Friday. Greenlane has a 12-month low of $0.40 and a 12-month high of $5.49. The business’s 50-day simple moving average is $0.54 and its 200 day simple moving average is $1.10. The company has a current ratio of 1.76, a quick ratio of 0.81 and a debt-to-equity ratio of 0.05.

Several large investors have recently modified their holdings of GNLN. HighTower Advisors LLC acquired a new position in shares of Greenlane in the third quarter valued at $147,000. Marshall Wace LLP bought a new position in shares of Greenlane in the third quarter worth about $1,038,000. Vident Investment Advisory LLC bought a new position in shares of Greenlane in the third quarter worth about $47,000. Kestra Advisory Services LLC raised its holdings in Greenlane by 47.2% in the 3rd quarter. Kestra Advisory Services LLC now owns 37,307 shares of the company’s stock valued at $88,000 after buying an additional 11,957 shares during the last quarter. Finally, BlackRock Inc. increased its position in Greenlane by 5.0% during the 3rd quarter. BlackRock Inc. now owns 736,522 shares of the company’s stock valued at $1,746,000 after purchasing an additional 34,953 shares during the period. Institutional investors own 16.31% of the company’s stock.

Greenlane Company Profile (Get Rating)

Greenlane Holdings, Inc develops and distributes cannabis accessories, child-resistant packaging, vape solutions, and lifestyle products in the United States, Canada, and Europe. It operates through two segments, Consumer Goods and Industrial Goods. The company provides consumption accessories, vaporizers, pipes, rolling papers and packaging, grinders, and apparel lines, as well as bubblers, rigs, and other smoking and vaporization related accessories and merchandise.

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