Q1 2023 EPS Estimates for Greenlane Holdings, Inc. Lifted by Analyst (NASDAQ:GNLN)

Greenlane Holdings, Inc. (NASDAQ:GNLN – Get Rating) – Research analysts at Alliance Global Partners lifted their Q1 2023 earnings per share estimates for Greenlane in a report issued on Tuesday, April 4th. Alliance Global Partners analyst A. Grey now expects that the company will earn ($1.18) per share for the quarter, up from their prior forecast of ($1.44). The consensus estimate for Greenlane’s current full-year earnings is ($2.75) per share. Alliance Global Partners also issued estimates for Greenlane’s Q2 2023 earnings at ($0.70) EPS, Q3 2023 earnings at ($0.57) EPS, Q4 2023 earnings at ($0.37) EPS, FY2023 earnings at ($2.80) EPS and FY2024 earnings at ($1.70) EPS.

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Greenlane Price Performance

Greenlane stock opened at $0.35 on Thursday. Greenlane has a 12 month low of $0.27 and a 12 month high of $9.58. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.84 and a quick ratio of 0.82. The business has a 50 day simple moving average of $0.38 and a 200-day simple moving average of $0.67. The stock has a market capitalization of $5.59 million, a PE ratio of -0.02 and a beta of 2.15.

Institutional Trading of Greenlane

A number of large investors have recently made changes to their positions in GNLN. Creative Planning purchased a new position in Greenlane during the second quarter worth about $505,000. BlackRock Inc. raised its holdings in shares of Greenlane by 22.1% during the 1st quarter. BlackRock Inc. now owns 1,154,079 shares of the company’s stock valued at $646,000 after buying an additional 208,765 shares during the period. State Street Corp grew its stake in Greenlane by 7.6% during the 1st quarter. State Street Corp now owns 544,609 shares of the company’s stock valued at $305,000 after purchasing an additional 38,320 shares in the last quarter. Millennium Management LLC grew its stake in Greenlane by 950.8% during the 2nd quarter. Millennium Management LLC now owns 528,940 shares of the company’s stock valued at $104,000 after purchasing an additional 478,603 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in Greenlane during the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 44.46% of the company’s stock.

About Greenlane

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Greenlane Holdings, Inc distributes and supplies vaporization products and accessories for vape shops and dispensaries. The firm offers packaging, rolling papers, grinders, glass products, and smoking accessories. The company was founded by Aaron LoCascio and Adam Schoenfeld in 2005 and is headquartered in Boca Raton, FL.

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