Greenlane Holdings, Inc. (NASDAQ:GNLN) Expected to Post Q3 2022 Earnings of ($1.00) Per Share

Greenlane Holdings, Inc. (NASDAQ:GNLNGet Rating) – Equities researchers at Jefferies Financial Group issued their Q3 2022 earnings per share (EPS) estimates for shares of Greenlane in a report released on Tuesday, September 20th. Jefferies Financial Group analyst O. Bennett anticipates that the company will post earnings per share of ($1.00) for the quarter. The consensus estimate for Greenlane’s current full-year earnings is ($8.34) per share. Jefferies Financial Group also issued estimates for Greenlane’s Q4 2022 earnings at ($0.91) EPS, FY2022 earnings at ($7.58) EPS, FY2023 earnings at ($0.76) EPS, FY2024 earnings at $0.08 EPS and FY2025 earnings at $1.10 EPS.

GNLN has been the subject of a number of other research reports. Alliance Global Partners lifted their target price on Greenlane from $1.50 to $6.00 in a report on Wednesday, August 17th. Canaccord Genuity Group dropped their price target on Greenlane from $20.00 to $5.00 in a research report on Wednesday, August 17th.

Greenlane Trading Down 5.3 %

Shares of GNLN opened at $1.78 on Thursday. 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 firm has a market cap of $11.40 million, a P/E ratio of -0.11 and a beta of 2.13. Greenlane has a fifty-two week low of $1.75 and a fifty-two week high of $53.20. The business has a 50-day moving average of $2.96 and a 200 day moving average of $5.74.

Greenlane (NASDAQ:GNLNGet Rating) last announced its quarterly earnings data on Tuesday, August 16th. The company reported ($2.27) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($2.20). Greenlane had a negative return on equity of 24.69% and a negative net margin of 27.61%. During the same period in the previous year, the business posted ($0.10) earnings per share.

Institutional Investors Weigh In On Greenlane

Several hedge funds have recently added to or reduced their stakes in the stock. Samalin Investment Counsel LLC lifted its holdings in Greenlane by 103.6% in the fourth quarter. Samalin Investment Counsel LLC now owns 49,121 shares of the company’s stock valued at $47,000 after acquiring an additional 25,000 shares during the period. Wolverine Trading LLC grew its position in shares of Greenlane by 112.3% during the fourth quarter. Wolverine Trading LLC now owns 51,163 shares of the company’s stock worth $48,000 after purchasing an additional 27,063 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Greenlane during the first quarter worth about $30,000. GSA Capital Partners LLP purchased a new stake in shares of Greenlane during the fourth quarter worth about $78,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Greenlane during the second quarter worth about $26,000.

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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