Analysts Set Greenlane Holdings, Inc. (NASDAQ:GNLN) PT at $3.22

Greenlane Holdings, Inc. (NASDAQ:GNLNGet Rating) has been given an average rating of “Buy” by the seven research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $3.22.

A number of analysts have weighed in on GNLN shares. Canaccord Genuity Group decreased 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. Alliance Global Partners decreased their target price on shares of Greenlane from $3.00 to $2.00 in a research report on Thursday, March 31st. Zacks Investment Research downgraded shares of Greenlane from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. Cowen reduced their price objective on shares of Greenlane from $5.00 to $2.00 in a research report on Friday, April 1st. Finally, Canaccord Genuity Group reduced their price objective 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.

Shares of NASDAQ GNLN traded down $0.02 during mid-day trading on Friday, hitting $0.35. 3,632 shares of the stock traded hands, compared to its average volume of 1,049,352. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.76 and a quick ratio of 0.81. Greenlane has a twelve month low of $0.28 and a twelve month high of $5.49. The company has a market cap of $42.47 million, a PE ratio of -0.39 and a beta of 2.34. The firm has a 50 day simple moving average of $0.45 and a two-hundred day simple moving average of $0.81.

Greenlane (NASDAQ:GNLNGet Rating) last issued its quarterly earnings data on Wednesday, March 30th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. Greenlane had a negative return on equity of 18.79% and a negative net margin of 18.42%. The company had revenue of $56.02 million during the quarter, compared to the consensus estimate of $56.10 million. During the same period last year, the company earned ($0.61) earnings per share. On average, equities research analysts anticipate that Greenlane will post -0.17 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of GNLN. Merlin Capital LLC acquired a new stake in Greenlane in the 4th quarter valued at $1,925,000. GSA Capital Partners LLP lifted its stake in Greenlane by 775.7% during the 1st quarter. GSA Capital Partners LLP now owns 710,502 shares of the company’s stock valued at $398,000 after acquiring an additional 629,371 shares in the last quarter. Marshall Wace LLP bought a new position in Greenlane during the 3rd quarter valued at $1,038,000. Renaissance Technologies LLC bought a new position in Greenlane during the 4th quarter valued at $400,000. Finally, 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 in the last quarter. 14.51% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading

Analyst Recommendations for Greenlane (NASDAQ:GNLN)

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