Greenlane Holdings, Inc. (NASDAQ:GNLN) Given Consensus Rating of “Buy” by Analysts

Greenlane Holdings, Inc. (NASDAQ:GNLNGet Rating) has earned a consensus recommendation of “Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $3.22.

Several analysts have recently weighed in on the company. Canaccord Genuity Group lowered their target price on Greenlane from $2.00 to $1.00 and set a “buy” rating for the company in a research note on Friday, April 1st. Canaccord Genuity Group lowered their target price 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. Zacks Investment Research downgraded Greenlane from a “buy” rating to a “hold” rating in a research note on Friday, May 6th. Alliance Global Partners decreased their price target on Greenlane from $3.00 to $2.00 in a research note on Thursday, March 31st. Finally, Cowen decreased their price target on Greenlane from $5.00 to $2.00 in a research note on Friday, April 1st.

Large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its holdings in Greenlane by 137.8% during the 2nd quarter. Wells Fargo & Company MN now owns 8,081 shares of the company’s stock worth $36,000 after buying an additional 4,683 shares during the period. Barclays PLC lifted its stake in Greenlane by 150.5% during the third quarter. Barclays PLC now owns 14,992 shares of the company’s stock valued at $36,000 after buying an additional 9,008 shares in the last quarter. Millennium Management LLC lifted its stake in Greenlane by 36.5% during the second quarter. Millennium Management LLC now owns 34,622 shares of the company’s stock valued at $155,000 after buying an additional 9,260 shares in the last quarter. Marathon Capital Management purchased a new stake in Greenlane during the third quarter valued at about $27,000. Finally, FNY Investment Advisers LLC lifted its stake in Greenlane by 60.5% during the fourth quarter. FNY Investment Advisers LLC now owns 31,883 shares of the company’s stock valued at $30,000 after buying an additional 12,020 shares in the last quarter. 14.51% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GNLN stock opened at $0.34 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.76 and a quick ratio of 0.81. The company’s fifty day moving average price is $0.45 and its two-hundred day moving average price is $0.84. The firm has a market capitalization of $41.57 million, a P/E ratio of -0.36 and a beta of 2.34. Greenlane has a 12 month low of $0.28 and a 12 month high of $5.49.

Greenlane (NASDAQ:GNLNGet Rating) last announced its earnings results on Wednesday, March 30th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.04. The company had revenue of $56.02 million during 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 period last year, the firm earned ($0.61) earnings per share. On average, sell-side analysts anticipate that Greenlane will post -0.17 EPS for the current year.

About Greenlane (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.

Featured Stories

Analyst Recommendations for Greenlane (NASDAQ:GNLN)

Receive News & Ratings for Greenlane Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Greenlane and related companies with MarketBeat.com's FREE daily email newsletter.