Greenlane Holdings, Inc. (NASDAQ:GNLN) Director Adam Schoenfeld Sells 33,000 Shares

Greenlane Holdings, Inc. (NASDAQ:GNLNGet Rating) Director Adam Schoenfeld sold 33,000 shares of the stock in a transaction that occurred on Friday, April 22nd. The stock was sold at an average price of $0.38, for a total transaction of $12,540.00. Following the completion of the sale, the director now owns 135,244 shares in the company, valued at $51,392.72. The transaction was disclosed in a filing with the SEC, which is available through this link.

Adam Schoenfeld also recently made the following trade(s):

  • On Thursday, April 14th, Adam Schoenfeld sold 33,000 shares of Greenlane stock. The stock was sold at an average price of $0.44, for a total transaction of $14,520.00.
  • On Friday, April 8th, Adam Schoenfeld sold 33,000 shares of Greenlane stock. The shares were sold at an average price of $0.44, for a total value of $14,520.00.
  • On Friday, March 25th, Adam Schoenfeld sold 33,000 shares of Greenlane stock. The shares were sold at an average price of $0.70, for a total value of $23,100.00.
  • On Friday, March 18th, Adam Schoenfeld sold 33,000 shares of Greenlane stock. The stock was sold at an average price of $0.50, for a total value of $16,500.00.
  • On Friday, March 11th, Adam Schoenfeld sold 33,000 shares of Greenlane stock. The stock was sold at an average price of $0.48, for a total value of $15,840.00.
  • On Friday, March 4th, Adam Schoenfeld sold 33,000 shares of Greenlane stock. The stock was sold at an average price of $0.49, for a total value of $16,170.00.
  • On Friday, February 25th, Adam Schoenfeld sold 33,000 shares of Greenlane stock. The stock was sold at an average price of $0.54, for a total value of $17,820.00.
  • On Friday, February 11th, Adam Schoenfeld sold 33,000 shares of Greenlane stock. The stock was sold at an average price of $0.68, for a total value of $22,440.00.

GNLN stock traded down $0.03 on Tuesday, reaching $0.35. The company’s stock had a trading volume of 1,229,822 shares, compared to its average volume of 1,896,461. The business has a fifty day simple moving average of $0.51 and a two-hundred day simple moving average of $1.00. Greenlane Holdings, Inc. has a 12-month low of $0.34 and a 12-month high of $5.49. The firm has a market cap of $42.16 million, a PE ratio of -0.37 and a beta of 2.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.81 and a current ratio of 1.76.

Greenlane (NASDAQ:GNLNGet Rating) last announced its quarterly earnings results on Wednesday, March 30th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $56.10 million. During the same quarter last year, the firm posted ($0.61) earnings per share. As a group, research analysts anticipate that Greenlane Holdings, Inc. will post -0.16 earnings per share for the current fiscal year.

Several analysts have issued reports on GNLN shares. Zacks Investment Research raised Greenlane from a “sell” rating to a “hold” rating and set a $0.50 target price for the company in a research note on Wednesday, April 6th. Canaccord Genuity Group dropped their price objective on Greenlane from $5.00 to $2.00 and set a “speculative buy” rating for the company in a research note on Friday, March 11th. Canaccord Genuity Group dropped their price objective on Greenlane from $2.00 to $1.00 and set a “buy” rating for the company in a research note on Friday, April 1st. Alliance Global Partners dropped their price objective on Greenlane from $3.00 to $2.00 in a research note on Thursday, March 31st. Finally, Cowen dropped their price objective on Greenlane from $5.00 to $2.00 in a research note on Friday, April 1st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Greenlane has a consensus rating of “Buy” and a consensus price target of $2.83.

A number of institutional investors and hedge funds have recently bought and sold shares of GNLN. Morgan Stanley raised its holdings in Greenlane by 239.5% in the first quarter. Morgan Stanley now owns 31,581 shares of the company’s stock worth $167,000 after purchasing an additional 22,278 shares in the last quarter. Millennium Management LLC raised its holdings in Greenlane by 36.5% in the second quarter. Millennium Management LLC now owns 34,622 shares of the company’s stock worth $155,000 after purchasing an additional 9,260 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Greenlane by 137.8% in the second quarter. Wells Fargo & Company MN now owns 8,081 shares of the company’s stock worth $36,000 after purchasing an additional 4,683 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in Greenlane in the third quarter worth $66,000. Finally, SWS Partners bought a new position in Greenlane in the third quarter worth $61,000. Institutional investors and hedge funds 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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