Equities analysts expect Greenlane Holdings (NASDAQ:GNLN) to post sales of $27.03 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Greenlane’s earnings. The highest sales estimate is $29.00 million and the lowest is $25.06 million. Greenlane reported sales of $52.99 million during the same quarter last year, which indicates a negative year-over-year growth rate of 49%. The company is expected to announce its next quarterly earnings results before the market opens on Friday, August 7th.

On average, analysts expect that Greenlane will report full-year sales of $125.39 million for the current financial year, with estimates ranging from $120.98 million to $129.80 million. For the next financial year, analysts anticipate that the firm will report sales of $173.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Greenlane.

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

Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Greenlane from a “hold” rating to a “sell” rating in a report on Wednesday, July 8th. Northland Securities assumed coverage on Greenlane in a report on Friday, June 5th. They issued a “buy” rating and a $5.00 price objective for the company. Canaccord Genuity restated a “buy” rating and issued a $4.00 price objective on shares of Greenlane in a report on Monday, June 8th. Finally, BidaskClub cut Greenlane from a “sell” rating to a “strong sell” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Greenlane has a consensus rating of “Hold” and an average target price of $4.00.

In related news, CEO Aaron Locascio sold 39,000 shares of the firm’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $3.72, for a total value of $145,080.00. Following the completion of the sale, the chief executive officer now directly owns 19,108 shares in the company, valued at approximately $71,081.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 83.59% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Nuveen Asset Management LLC acquired a new stake in Greenlane during the first quarter worth approximately $48,000. State Street Corp lifted its position in Greenlane by 83.9% during the first quarter. State Street Corp now owns 132,494 shares of the company’s stock worth $228,000 after acquiring an additional 60,463 shares during the last quarter. AdvisorShares Investments LLC raised its position in shares of Greenlane by 9.2% in the first quarter. AdvisorShares Investments LLC now owns 183,441 shares of the company’s stock valued at $316,000 after buying an additional 15,505 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Greenlane in the fourth quarter valued at approximately $387,000. Finally, Healthcare Value Capital LLC raised its position in shares of Greenlane by 28.6% in the first quarter. Healthcare Value Capital LLC now owns 225,000 shares of the company’s stock valued at $387,000 after buying an additional 50,000 shares in the last quarter. Hedge funds and other institutional investors own 5.17% of the company’s stock.

Shares of NASDAQ GNLN traded down $0.03 during mid-day trading on Monday, hitting $3.86. The company had a trading volume of 86,003 shares, compared to its average volume of 145,028. The company has a market capitalization of $362.65 million, a PE ratio of -2.82 and a beta of 2.44. The firm has a 50-day simple moving average of $3.54 and a two-hundred day simple moving average of $2.71. The company has a current ratio of 4.50, a quick ratio of 2.66 and a debt-to-equity ratio of 0.12. Greenlane has a one year low of $1.02 and a one year high of $9.68.

Greenlane Company Profile

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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