Greenlane Holdings (NASDAQ:GNLN) CEO Aaron Locascio bought 56,375 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was bought at an average price of $3.63 per share, for a total transaction of $204,641.25.
NASDAQ:GNLN traded up $0.27 during mid-day trading on Monday, reaching $3.63. 190,396 shares of the stock were exchanged, compared to its average volume of 303,782. The business has a fifty day moving average price of $3.60 and a 200 day moving average price of $8.47. Greenlane Holdings has a 1-year low of $3.10 and a 1-year high of $29.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.50 and a quick ratio of 2.67.
Greenlane (NASDAQ:GNLN) last released its earnings results on Friday, November 8th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.58). The firm had revenue of $44.89 million for the quarter, compared to analyst estimates of $48.65 million. Greenlane had a negative return on equity of 66.55% and a negative net margin of 17.11%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, sell-side analysts predict that Greenlane Holdings will post -0.53 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Ardsley Advisory Partners LP acquired a new position in shares of Greenlane in the 2nd quarter valued at $382,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Greenlane in the 2nd quarter valued at $124,000. Northern Trust Corp acquired a new position in shares of Greenlane in the 2nd quarter valued at $550,000. Anson Funds Management LP acquired a new position in shares of Greenlane in the 2nd quarter valued at $16,775,000. Finally, Cowen Inc. acquired a new position in shares of Greenlane in the 2nd quarter valued at $3,228,000. Institutional investors and hedge funds own 9.36% of the company’s stock.
GNLN has been the topic of a number of research analyst reports. Zacks Investment Research lowered Greenlane from a “hold” rating to a “sell” rating in a report on Friday. Roth Capital lowered their price target on Greenlane from $18.50 to $10.00 and set a “buy” rating on the stock in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Greenlane has an average rating of “Buy” and an average price target of $19.60.
Greenlane Holdings, Inc distribute consumption accessories and vaporization products to wholesale and retail customers in the United States and Canada. The company offers vaporizers and parts, cleaning products, grinders and storage containers, pipes, rolling papers, and customized lines of specialty packaging.
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