Greenlane (NASDAQ:GNLN) Posts Earnings Results

Greenlane (NASDAQ:GNLN) issued its quarterly earnings data on Tuesday. The company reported $8.46 earnings per share for the quarter, FiscalAI reports. Greenlane had a negative return on equity of 164.19% and a negative net margin of 532.82%.The business had revenue of $1.36 million for the quarter.

Greenlane Stock Performance

Shares of NASDAQ:GNLN opened at $0.32 on Thursday. The stock’s 50-day moving average is $0.88 and its 200-day moving average is $2.23. The company has a market cap of $2.55 million, a P/E ratio of 0.00 and a beta of 1.24. Greenlane has a 52-week low of $0.26 and a 52-week high of $225.00.

Shares of Greenlane are scheduled to reverse split before the market opens 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 market closes on Friday, April 3rd.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Greenlane in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Greenlane presently has a consensus 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.