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Greenlane Holdings Inc. (NASDAQ:GNLN) Down Almost -71.66% In One Month, Looking Good For The Long Term

In last trading session, Greenlane Holdings Inc. (NASDAQ:GNLN) saw 0.25 million shares changing hands with its beta currently measuring 1.79. Company’s recent per share price level of $0.48 trading at $0.0 or 0.74% at ring of the bell on the day assigns it a market valuation of $7.07M. That closing price of GNLN’s stock is at a discount of -5608.33% from its 52-week high price of $27.40 and is indicating a premium of 12.5% from its 52-week low price of $0.42. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.51 million shares which gives us an average trading volume of 569.68K if we extend that period to 3-months.

Greenlane Holdings Inc. (NASDAQ:GNLN) trade information

Upright in the green during last session for gaining 0.74%, in the last five days GNLN remained trading in the green while hitting it’s week-highest on Thursday, 11/17/22 when the stock touched $0.48 price level, adding 4.0% to its value on the day. Greenlane Holdings Inc.’s shares saw a change of -97.52% in year-to-date performance and have moved 2.07% in past 5-day. Greenlane Holdings Inc. (NASDAQ:GNLN) showed a performance of -71.66% in past 30-days. Number of shares sold short was 0.54 million shares which calculate 2.89 days to cover the short interests.

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Greenlane Holdings Inc. (GNLN) estimates and forecasts

Statistics highlight that Greenlane Holdings Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -91.77% of value to its shares in past 6 months, showing an annual growth rate of -91.92% while that of industry is 7.60. Apart from that, the company came lowering its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 73.50% in the current quarter and calculating 45.00% increase in the next quarter. This year revenue growth is estimated to fall -0.30% from the last financial year’s standing.

4 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $39.18 million for the same. And 4 analysts are in estimates of company making revenue of $39.88 million in the next quarter that will end on Dec 2022. Company posted $41.31 million and $56.02 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -5.20% while estimating it to be -28.80% for the next quarter.

GNLN Dividends

Greenlane Holdings Inc. is more likely to be releasing its next quarterly report between November 14 and November 18 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 6.18% of company’s total shares while institution are holding 19.58 percent of that, with stock having share float percentage of 20.87%. Investors also watch the number of corporate investors in a company very closely, which is 19.58% institutions for Greenlane Holdings Inc. that are currently holding shares of the company. Armistice Capital, LLC is the top institutional holder at GNLN for having 0.47 million shares of worth $1.86 million. And as of Jun 29, 2022, it was holding 6.35% of the company’s outstanding shares.

The second largest institutional holder is Merlin Capital LLC, which was holding about 0.15 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 2.07% of outstanding shares, having a total worth of $0.61 million.

On the other hand, Spinnaker ETF Tr-Cannabis ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Aug 30, 2022, the former fund manager was holding 0.1 million shares of worth $0.27 million or 1.37% of the total outstanding shares. The later fund manager was in possession of 86646.0 shares on Jun 29, 2022, making its stake of worth around $0.34 million in the company or a holder of 1.16% of company’s stock.

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