Brokerages predict that Greenlane Holdings (NASDAQ:GNLN) will post earnings of ($0.11) per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Greenlane’s earnings. The highest EPS estimate is ($0.08) and the lowest is ($0.14). Greenlane posted earnings of $0.18 per share in the same quarter last year, which suggests a negative year over year growth rate of 161.1%. The business is scheduled to report its next quarterly earnings results before the market opens on Friday, August 7th.

On average, analysts expect that Greenlane will report full year earnings of ($0.38) per share for the current fiscal year, with EPS estimates ranging from ($0.50) to ($0.31). For the next financial year, analysts expect that the firm will post earnings of $0.04 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Greenlane.

Greenlane (NASDAQ:GNLN) last announced its earnings results on Thursday, June 4th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.43). The company had revenue of $33.87 million for the quarter, compared to analysts’ expectations of $32.52 million. Greenlane had a negative net margin of 8.32% and a negative return on equity of 13.44%.

GNLN has been the topic of several analyst reports. BidaskClub downgraded Greenlane from a “sell” rating to a “strong sell” rating in a report on Tuesday. Canaccord Genuity restated a “buy” rating and set a $4.00 price objective on shares of Greenlane in a research note on Monday, June 8th. Zacks Investment Research lowered Greenlane from a “hold” rating to a “sell” rating in a research note on Wednesday, July 8th. Finally, Northland Securities started coverage on Greenlane in a research note on Friday, June 5th. They set a “buy” rating and a $5.00 price objective for the company. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $4.00.

Shares of NASDAQ:GNLN traded down $0.03 during mid-day trading on Friday, hitting $3.86. 86,003 shares of the company traded hands, compared to its average volume of 145,028. The firm has a market cap of $362.65 million, a P/E ratio of -2.82 and a beta of 2.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.66 and a current ratio of 4.50. Greenlane has a 52-week low of $1.02 and a 52-week high of $9.68. The firm’s 50 day simple moving average is $3.54 and its 200 day simple moving average is $2.71.

In related news, CEO Aaron Locascio sold 37,267 shares of the business’s stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of $3.72, for a total transaction of $138,633.24. Following the completion of the transaction, the chief executive officer now owns 19,108 shares in the company, valued at approximately $71,081.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 83.59% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. AdvisorShares Investments LLC boosted its position in Greenlane by 9.2% during the 1st quarter. AdvisorShares Investments LLC now owns 183,441 shares of the company’s stock valued at $316,000 after purchasing an additional 15,505 shares during the period. Nuveen Asset Management LLC bought a new stake in Greenlane during the 1st quarter valued at $48,000. BlackRock Inc. raised its stake in Greenlane by 5.7% during the 1st quarter. BlackRock Inc. now owns 540,742 shares of the company’s stock valued at $930,000 after acquiring an additional 29,011 shares in the last quarter. Healthcare Value Capital LLC raised its stake in Greenlane by 28.6% during the 1st quarter. Healthcare Value Capital LLC now owns 225,000 shares of the company’s stock valued at $387,000 after acquiring an additional 50,000 shares in the last quarter. Finally, State Street Corp raised its stake in Greenlane by 83.9% during the 1st quarter. State Street Corp now owns 132,494 shares of the company’s stock valued at $228,000 after acquiring an additional 60,463 shares in the last quarter. Institutional investors and hedge funds own 5.17% of the company’s stock.

About Greenlane

Greenlane Holdings, Inc distribute consumption accessories and vaporization products to wholesale and retail customers in the United States and Canada. The company offers vaporizers and parts, cleaning products, grinders and storage containers, pipes, rolling papers, and customized lines of specialty packaging.

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