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Greenlane Holdings Inc. (NASDAQ: GNLN) Fall -78.39% In Six Months, Here’s What We Should Expect Now

During the last session, Greenlane Holdings Inc. (NASDAQ:GNLN)’s traded shares were 3.32 million. At the end of the trading day, the stock’s price was $0.17, reflecting an intraday loss of 3.45% or $0.0. The 52-week high for the GNLN share is $3.45, that puts it down -1929.41 from that peak though still a striking 17.65% gain since the share price plummeted to a 52-week low of $0.14. The company’s market capitalization is $25.94M, and the average intraday trading volume over the past 10 days was 9.39 million shares, and the average trade volume was 3.18 million shares over the past three months.

Greenlane Holdings Inc. (GNLN) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.50. GNLN has a Sell rating from 0 analyst(s) out of 6 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 6 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.05.

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Greenlane Holdings Inc. (NASDAQ:GNLN) trade information

Greenlane Holdings Inc. (GNLN) registered a 3.45% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 3.45% in intraday trading to $0.17 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is 14.56%, and it has moved by -17.26% in 30 days. Based on these gigs, the overall price performance for the year is -94.90%. The short interest in Greenlane Holdings Inc. (NASDAQ:GNLN) is 4.06 million shares and it means that shorts have 1.21 day(s) to cover.

The consensus price target of analysts on Wall Street is $2.25, which implies an increase of 92.44% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.00 and $5.00 respectively. As a result, GNLN is trading at a discount of -2841.18% off the target high and -488.24% off the low.

Greenlane Holdings Inc. (GNLN) estimates and forecasts

Statistics show that Greenlane Holdings Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Greenlane Holdings Inc. (GNLN) shares have gone down -78.39% during the last six months, with a year-to-date growth rate more than the industry average at 25.64% against 3.70. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 77.30% this quarter and then jump 91.30% in the quarter after that. In the rating firms’ projections, revenue will increase 25.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $50.33 million as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $53.33 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $34.72 million and $41.31 million respectively. In this case, analysts expect current quarter sales to grow by 45.00% and then jump by 29.10% in the coming quarter.

While earnings are projected to return 34.80% in 2022.

GNLN Dividends

Greenlane Holdings Inc. is due to release its next quarterly earnings between March 29 and April 04. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Greenlane Holdings Inc. (NASDAQ:GNLN)’s Major holders

Greenlane Holdings Inc. insiders own 5.07% of total outstanding shares while institutional holders control 12.84%, with the float percentage being 13.53%. Merlin Capital LLC is the largest shareholder of the company, while 125 institutions own stock in it. As of Jun 29, 2022, the company held over 3.1 million shares (or 2.86% of all shares), a total value of $0.61 million in shares.

The next largest institutional holding, with 2.54 million shares, is of Adage Capital Partners GP L.L.C.’s that is approximately 2.34% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $1.42 million.

Also, the Mutual Funds coming in first place with the largest holdings of Greenlane Holdings Inc. (GNLN) shares are Spinnaker ETF Tr-Cannabis ETF and Vanguard Total Stock Market Index Fund. Data provided on May 30, 2022 indicates that Spinnaker ETF Tr-Cannabis ETF owns about 2.67 million shares. This amounts to just over 2.46 percent of the company’s overall shares, with a $0.79 million market value. The same data shows that the other fund manager holds slightly less at 1.73 million, or about 1.60% of the stock, which is worth about $0.97 million.

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