Greenlane Holdings, Inc. (NASDAQ:GNLN – Get Rating) – Equities research analysts at Jefferies Financial Group issued their Q1 2022 earnings per share estimates for Greenlane in a report released on Wednesday, April 13th. Jefferies Financial Group analyst O. Bennett anticipates 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.
Other equities research analysts have also issued reports about the company. Canaccord Genuity Group cut their target price 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. Alliance Global Partners reduced their price target on Greenlane from $3.00 to $2.00 in a research report on Thursday, March 31st. Cowen dropped their price target on Greenlane from $5.00 to $2.00 in a research note on Friday, April 1st. Zacks Investment Research raised Greenlane from a “sell” rating to a “hold” rating and set a $0.50 target price on the stock in a research report on Wednesday, April 6th. Finally, 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 research note on Friday, April 1st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $2.83.
Greenlane (NASDAQ:GNLN – Get 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 consensus estimate of ($0.13) by $0.04. Greenlane had a negative return on equity of 18.79% and a negative net margin of 18.42%. The company had revenue of $56.02 million for the quarter, compared to the consensus estimate of $56.10 million. During the same period in the previous year, the business earned ($0.61) EPS.
Several institutional investors have recently added to or reduced their stakes in GNLN. Merlin Capital LLC acquired a new position in shares of Greenlane in the fourth quarter valued at approximately $1,925,000. Marshall Wace LLP acquired a new stake in Greenlane in the third quarter valued at approximately $1,038,000. Renaissance Technologies LLC bought a new position in Greenlane during the fourth quarter worth $400,000. BlackRock Inc. increased its holdings in shares of Greenlane by 28.3% during the fourth quarter. BlackRock Inc. now owns 945,314 shares of the company’s stock valued at $911,000 after purchasing an additional 208,792 shares during the period. Finally, Millennium Management LLC increased its stake in Greenlane by 101.5% in the 4th quarter. Millennium Management LLC now owns 363,361 shares of the company’s stock worth $350,000 after purchasing an additional 183,005 shares in the last quarter. 16.31% of the stock is owned by institutional investors and hedge funds.
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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