Greenlane (GNLN) Scheduled to Post Earnings on Tuesday

Greenlane (NASDAQ:GNLNGet Rating) is set to post its quarterly earnings results after the market closes on Tuesday, November 15th. Analysts expect Greenlane to post earnings of ($1.20) per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Greenlane (NASDAQ:GNLNGet Rating) last issued its quarterly earnings results on Tuesday, August 16th. The company reported ($2.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.40) by ($0.87). Greenlane had a negative return on equity of 24.69% and a negative net margin of 27.61%. The business had revenue of $39.92 million for the quarter, compared to analysts’ expectations of $50.16 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. On average, analysts expect Greenlane to post $-8 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Greenlane Price Performance

Shares of GNLN stock opened at $0.54 on Friday. Greenlane has a fifty-two week low of $0.42 and a fifty-two week high of $42.80. The firm has a market capitalization of $4.12 million, a price-to-earnings ratio of -0.03 and a beta of 1.79. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.77 and a current ratio of 1.65. The stock’s 50-day simple moving average is $1.59 and its 200-day simple moving average is $3.60.

Institutional Investors Weigh In On Greenlane

Institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC acquired a new position in Greenlane in the second quarter valued at approximately $26,000. AQR Capital Management LLC acquired a new position in Greenlane in the second quarter valued at approximately $39,000. Vident Investment Advisory LLC lifted its holdings in Greenlane by 76.6% in the first quarter. Vident Investment Advisory LLC now owns 163,945 shares of the company’s stock valued at $92,000 after acquiring an additional 71,105 shares during the period. Millennium Management LLC lifted its holdings in Greenlane by 950.8% in the second quarter. Millennium Management LLC now owns 528,940 shares of the company’s stock valued at $104,000 after acquiring an additional 478,603 shares during the period. Finally, State Street Corp lifted its holdings in Greenlane by 7.6% in the first quarter. State Street Corp now owns 544,609 shares of the company’s stock valued at $305,000 after acquiring an additional 38,320 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group dropped their price target on Greenlane from $20.00 to $5.00 in a research note on Wednesday, August 17th. Alliance Global Partners lifted their target price on Greenlane from $1.50 to $6.00 in a report on Wednesday, August 17th. Finally, Roth Capital downgraded Greenlane from a “buy” rating to a “neutral” rating in a report on Tuesday, November 1st.

Greenlane Company Profile

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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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Earnings History for Greenlane (NASDAQ:GNLN)

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