In the last trading session, 1,626,684 shares of the Greenlane Holdings, Inc.(NASDAQ:GNLN) were traded, and its beta was 0. Most recently the company’s share price was $6.66, and it changed around $0.62 or 0.1% from the last close, which brings the market valuation of the company to $292.92 Million. GNLN currently trades at a discount to its 52-week high of $8.73, offering almost -31.08% off that amount. The share price’s 52-week low was $1.02, which indicates that the current value has risen by an impressive 84.68% since then. We note from Greenlane Holdings, Inc.’s average daily trading volume that its 10-day average is 846.02 Million shares, with the 3-month average coming to 717.84 Million.
Greenlane Holdings, Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 1.6. If we narrow it down even further, the data shows that none out of 5 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended GNLN as a Hold, whereas 5 deemed it a Buy, and no one rated it as Underweight. Greenlane Holdings, Inc. is expected to report earnings per share of -$0.08 for the current quarter.
Greenlane Holdings, Inc. (NASDAQ:GNLN): Trading Information
Instantly GNLN has showed a green trend with a performance of 10.26% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $7.14- on Friday, Feb 12 increased the stock’s daily price by 6.72%. The company’s shares are currently up 0.68% year-to-date, but still up 0.0847 over the last five days. On the other hand, Greenlane Holdings, Inc. (NASDAQ:GNLN) is 0.25% up in the 30-day period. We can see from the shorts that 939.29 Million shares have been sold at a short interest cover period of 1.31 day(s).
The consensus price target as assigned by Wall Street analysts is $5.4, which translates to bears needing to reduce their stock price by -18.92% from its current value. Analyst projections state that GNLN is forecast to be at a low of $4 and a high of $8. In order for the stock price to hit the forecast high, the stock would need to surge +20.12% from its current level, while the stock would need to crash -39.94% from its current level to reach the projected low.
Greenlane Holdings, Inc. (GNLN) projections and forecasts
Greenlane Holdings, Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +134.51 percent over the past six months and at a -142.86% annual growth rate that is well below the industry average of 11.6%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +89.2% in revenue this quarter, and will report an increase of 71.4% in the next quarter. The year-over-year growth rate is expected to be -25%, down from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $36.57 Million in revenue for the current quarter. 3 analysts expect Greenlane Holdings, Inc. to make $37.54 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarters a year ago were $37.24 Million and $32.56 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -1.8%. Forecasts for the next quarter put sales growth at 15.3%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of 0%. Greenlane Holdings, Inc. earnings are expected to decrease by -388.6% in 2021, but the outlook is negative 0% per year for the next five years.
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Greenlane Holdings, Inc. (NASDAQ:GNLN)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 0.7% of Greenlane Holdings, Inc. shares, and 36.33% of them are in the hands of institutional investors. The stock currently has a share float of 36.59%. Greenlane Holdings, Inc. stock is held by 71 institutions, with AdvisorShares Investments, LLC being the largest institutional investor. By Dec 30, 2020, it held 8.85% of the shares, which is about 1.16 Million shares worth $4.58 Million.
Blackrock Inc., with 4.61% or 603.04 Thousand shares worth $2.39 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.