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 Greenlane stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $0.36, for a total transaction of $11,880.00. Following the sale, the director now owns 69,244 shares of the company’s stock, valued at approximately $24,927.84. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

  • On Friday, April 22nd, Adam Schoenfeld sold 33,000 shares of Greenlane stock. The shares were sold at an average price of $0.38, for a total transaction of $12,540.00.
  • On Thursday, April 14th, Adam Schoenfeld sold 33,000 shares of Greenlane stock. The shares were 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 transaction 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 transaction of $23,100.00.
  • On Friday, March 18th, Adam Schoenfeld sold 33,000 shares of Greenlane stock. The shares were sold at an average price of $0.50, for a total transaction of $16,500.00.
  • On Friday, March 11th, Adam Schoenfeld sold 33,000 shares of Greenlane stock. The shares were sold at an average price of $0.48, for a total transaction of $15,840.00.
  • On Friday, March 4th, Adam Schoenfeld sold 33,000 shares of Greenlane stock. The shares were sold at an average price of $0.49, for a total transaction of $16,170.00.
  • On Friday, February 25th, Adam Schoenfeld sold 33,000 shares of Greenlane stock. The shares were sold at an average price of $0.54, for a total transaction 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 transaction of $22,440.00.

NASDAQ:GNLN opened at $0.33 on Wednesday. The company has a market cap of $40.27 million, a PE ratio of -0.35 and a beta of 2.34. Greenlane Holdings, Inc. has a twelve month low of $0.32 and a twelve month high of $5.49. The company has a current ratio of 1.76, a quick ratio of 0.81 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $0.46 and its two-hundred day moving average is $0.86.

Greenlane (NASDAQ:GNLNGet Rating) last released its earnings results on Wednesday, March 30th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.04. The company had revenue of $56.02 million for the quarter, compared to the consensus estimate of $56.10 million. Greenlane had a negative net margin of 18.42% and a negative return on equity of 18.79%. During the same quarter in the previous year, the firm earned ($0.61) EPS. As a group, analysts expect that Greenlane Holdings, Inc. will post -0.17 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in GNLN. Merlin Capital LLC acquired a new stake in Greenlane during the 4th quarter valued at approximately $1,925,000. Marshall Wace LLP acquired a new stake in Greenlane during the 3rd quarter valued at approximately $1,038,000. Renaissance Technologies LLC acquired a new stake in Greenlane during the 4th quarter valued at approximately $400,000. BlackRock Inc. lifted its stake in Greenlane by 28.3% during the 4th quarter. BlackRock Inc. now owns 945,314 shares of the company’s stock valued at $911,000 after acquiring an additional 208,792 shares during the period. Finally, Millennium Management LLC lifted its stake in Greenlane by 101.5% during the 4th quarter. Millennium Management LLC now owns 363,361 shares of the company’s stock valued at $350,000 after acquiring an additional 183,005 shares during the period. Institutional investors and hedge funds own 14.51% of the company’s stock.

A number of research analysts have recently issued reports on GNLN shares. Canaccord Genuity Group cut their price objective on shares of Greenlane from $5.00 to $2.00 and set a “speculative buy” rating on the stock in a research report on Friday, March 11th. Canaccord Genuity Group cut their price objective on shares of Greenlane from $2.00 to $1.00 and set a “buy” rating on the stock in a research report on Friday, April 1st. Cowen cut their price objective on shares of Greenlane from $5.00 to $2.00 in a research report on Friday, April 1st. Alliance Global Partners cut their price objective on shares of Greenlane from $3.00 to $2.00 in a research report on Thursday, March 31st. Finally, Zacks Investment Research downgraded shares of Greenlane from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Greenlane has an average rating of “Buy” and a consensus price target of $2.83.

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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