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

Greenlane Holdings, Inc. (NASDAQ:GNLNGet Rating) has earned a consensus rating of “Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $3.22.

Several research analysts have weighed in on GNLN shares. Cowen lowered their price objective on shares of Greenlane from $5.00 to $2.00 in a report on Friday, April 1st. Zacks Investment Research lowered shares of Greenlane from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. Canaccord Genuity Group cut their target price on shares of Greenlane from $5.00 to $2.00 and set a “speculative buy” rating for the company in a research report on Friday, March 11th. Canaccord Genuity Group cut their target price on shares of Greenlane from $2.00 to $1.00 and set a “buy” rating for the company in a research report on Friday, April 1st. Finally, Alliance Global Partners lowered their price target on shares of Greenlane from $3.00 to $2.00 in a report on Thursday, March 31st.

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in shares of Greenlane by 22.1% during the 1st quarter. BlackRock Inc. now owns 1,154,079 shares of the company’s stock valued at $646,000 after acquiring an additional 208,765 shares during the period. GSA Capital Partners LLP raised its holdings in shares of Greenlane by 775.7% during the 1st quarter. GSA Capital Partners LLP now owns 710,502 shares of the company’s stock worth $398,000 after acquiring an additional 629,371 shares in the last quarter. AdvisorShares Investments LLC raised its holdings in Greenlane by 11.6% during the 1st quarter. AdvisorShares Investments LLC now owns 639,511 shares of the company’s stock valued at $358,000 after buying an additional 66,580 shares during the period. Qube Research & Technologies Ltd purchased a new stake in Greenlane during the 1st quarter valued at $30,000. Finally, Merlin Capital LLC purchased a new stake in Greenlane during the 4th quarter valued at $1,925,000. Institutional investors and hedge funds own 14.51% of the company’s stock.

GNLN opened at $0.34 on Friday. Greenlane has a fifty-two week low of $0.28 and a fifty-two week high of $5.49. 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 firm has a market capitalization of $41.57 million, a price-to-earnings ratio of -0.36 and a beta of 2.34. The company’s 50 day moving average price is $0.45 and its two-hundred day moving average price is $0.84.

Greenlane (NASDAQ:GNLNGet Rating) last posted its quarterly earnings data on Wednesday, March 30th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. Greenlane had a negative net margin of 18.42% and a negative return on equity of 18.79%. The company had revenue of $56.02 million for the quarter, compared to analyst estimates of $56.10 million. During the same period in the prior year, the firm posted ($0.61) EPS. As a group, equities research analysts predict 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.

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