Greenlane (NASDAQ:GNLN) Shares to Reverse Split on Monday, April 6th

Greenlane Holdings, Inc. (NASDAQ:GNLN)’s stock is scheduled to reverse split on Monday, April 6th. The 1-8 reverse split was announced on Wednesday, April 1st. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, April 3rd.

Greenlane Stock Down 21.6%

Shares of NASDAQ:GNLN opened at $0.29 on Thursday. The firm has a fifty day simple moving average of $0.88 and a two-hundred day simple moving average of $2.23. Greenlane has a 52 week low of $0.26 and a 52 week high of $228.38. The stock has a market capitalization of $2.31 million, a P/E ratio of 0.00 and a beta of 1.32.

Greenlane (NASDAQ:GNLN) last posted its earnings results on Tuesday, March 31st. The company reported $8.46 earnings per share for the quarter. The firm had revenue of $1.36 million for the quarter. Greenlane had a negative net margin of 532.82% and a negative return on equity of 164.19%.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Greenlane in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

About Greenlane

Greenlane Holdings, Inc is a leading global distributor and direct-to-consumer retailer of premium cannabis consumption accessories and lifestyle products. The company’s portfolio spans hardware such as vaporizers, glassware, rolling papers, storage solutions, and concentrate tools, alongside branded and proprietary offerings designed to meet the evolving needs of both consumers and retail partners in the cannabis and hemp sectors.

Through a multi-channel platform, Greenlane serves a diverse customer base that includes smoke shops, dispensaries, specialty retailers and e-commerce operators.