After A -6.42% Drop In The Last Week, Does Greenlane Holdings Inc (NASDAQ: GNLN) Still Make Sense To Buy?

During the last session, Greenlane Holdings Inc (NASDAQ:GNLN)’s traded shares were 1.36 million, with the beta value of the company hitting 1.89. At the end of the trading day, the stock’s price was $0.51, reflecting an intraday gain of 8.97% or $0.04. The 52-week high for the GNLN share is $3.85, that puts it down -654.9 from that peak though still a striking 27.45% gain since the share price plummeted to a 52-week low of $0.37. The company’s market capitalization is $1.90M, and the average intraday trading volume over the past 10 days was 0.45 million shares, and the average trade volume was 85.53K shares over the past three months.

Greenlane Holdings Inc (NASDAQ:GNLN) trade information

Greenlane Holdings Inc (GNLN) registered a 8.97% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 8.97% in intraday trading to $0.51, hitting a weekly high. The stock’s 5-day price performance is -6.42%, and it has moved by 15.38% in 30 days. Based on these gigs, the overall price performance for the year is -85.99%. The short interest in Greenlane Holdings Inc (NASDAQ:GNLN) is 51760.0 shares and it means that shorts have 1.73 day(s) to cover.

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Greenlane Holdings Inc (GNLN) estimates and forecasts

In the rating firms’ projections, revenue will decrease -34.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $11.8 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $24.94 million by the end of Dec 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $28.68 million and $21.99 million respectively. In this case, analysts expect current quarter sales to shrink by -58.90% and then jump by 13.40% in the coming quarter.

GNLN Dividends

Greenlane Holdings Inc is due to release its next quarterly earnings in May. 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 0.98% of total outstanding shares while institutional holders control 13.95%, with the float percentage being 14.09%. Twin Focus Capital Partners, LLC is the largest shareholder of the company, while 28 institutions own stock in it. As of Jun 29, 2023, the company held over 71250.0 shares (or 2.68% of all shares), a total value of $68970.0 in shares.

The next largest institutional holding, with 63837.0 shares, is of AXS Investments, LLC’s that is approximately 2.40% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $61794.0.

Also, the Mutual Funds coming in first place with the largest holdings of Greenlane Holdings Inc (GNLN) shares are Investment Managers Ser Tr II-AXS Cannabis ETF and Vanguard Extended Market Index Fund. Data provided on May 30, 2023 indicates that Investment Managers Ser Tr II-AXS Cannabis ETF owns about 58868.0 shares. This amounts to just over 2.22 percent of the company’s overall shares, with a $0.18 million market value. The same data shows that the other fund manager holds slightly less at 8895.0, or about 0.33% of the stock, which is worth about $8610.0.