Greenlane (GNLN) Stock Forecast, Price & News

1 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Greenlane in the last twelve months. There are currently 1 hold rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" GNLN shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in GNLN, but not buy additional shares or sell existing shares.
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1 equities research analysts have issued 12 month price objectives for Greenlane's stock. Their GNLN share price forecasts range from $2.00 to $5.00. On average, they expect the company's stock price to reach $3.50 in the next twelve months. This suggests a possible upside of 1,008.3% from the stock's current price.
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Greenlane's stock was trading at $0.2875 at the start of the year. Since then, GNLN stock has increased by 9.8% and is now trading at $0.3158.
View the best growth stocks for 2023 here.

Greenlane saw a increase in short interest in the month of May. As of May 15th, there was short interest totaling 63,900 shares, an increase of 26.5% from the April 30th total of 50,500 shares. Based on an average daily volume of 179,900 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.4% of the shares of the company are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, August 15th 2023.
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Greenlane Holdings, Inc. (NASDAQ:GNLN) announced its quarterly earnings results on Monday, April, 3rd. The company reported ($1.02) EPS for the quarter. The business had revenue of $21.99 million for the quarter, compared to the consensus estimate of $26.99 million. Greenlane had a negative trailing twelve-month return on equity of 95.25% and a negative net margin of 96.63%.

ETFs with the largest weight of Greenlane (NASDAQ:GNLN) stock in their portfolio include AXS Cannabis ETF (THCX) and Cambria Cannabis ETF (TOKE).Amplify Seymour Cannabis ETF (CNBS).

Greenlane shares reverse split before market open on Wednesday, August 10th 2022. The 1-20 reverse split was announced on Wednesday, August 10th 2022. The number of shares owned by shareholders was adjusted after the market closes on Wednesday, August 10th 2022. An investor that had 100 shares of stock prior to the reverse split would have 5 shares after the split.

Greenlane issued an update on its first quarter 2023 earnings guidance on Monday, April, 3rd. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $23.00 million-$24.00 million, compared to the consensus revenue estimate of $27.54 million.

Based on aggregate information from My MarketBeat watchlists, some companies that other Greenlane investors own include KushCo (KSHB), Organigram (OGI), Enerplus (ERF), Matinas BioPharma (MTNB), Supreme Cannabis (SPRWF), ADMA Biologics (ADMA), EnLink Midstream (ENLC), Gran Tierra Energy (GTE), MariMed (MRMD) and Novan (NOVN).

(GNLN) raised $80 million in an initial public offering (IPO) on Thursday, April 18th 2019. The company issued 5,300,000 shares at $14.00-$16.00 per share. Cowen and Company and Canaccord Genuity acted as the underwriters for the IPO and Ladenburg Thalmann, Roth Capital Partners and Northland Securities were co-managers.

Greenlane trades on the NASDAQ under the ticker symbol "GNLN."

Greenlane's stock is owned by a variety of institutional and retail investors. Top institutional investors include AXS Investments LLC (6.36%). Insiders that own company stock include Aaron Locascio, Adam Schoenfeld and William E Mote Jr.
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Shares of GNLN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of GNLN stock can currently be purchased for approximately $0.32.

Greenlane (NASDAQ:GNLN) has a market capitalization of $5.01 million and generates $137.09 million in revenue each year. The company earns $-115,760,000.00 in net income (profit) each year or ($15.36) on an earnings per share basis.

The company employs 264 workers across the globe.

Greenlane's mailing address is 1095 BROKEN SOUND PARKWAY SUITE 300, BOCA RATON FL, 33487. The official website for the company is www.gnln.com. The company can be reached via phone at (877) 292-7660 or via email at investor@gnln.com.