Brokerages Expect Greenlane Holdings (NASDAQ:GNLN) Will Announce Quarterly Sales of $49.35 Million

Wall Street analysts forecast that Greenlane Holdings (NASDAQ:GNLN) will post $49.35 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Greenlane’s earnings, with the lowest sales estimate coming in at $46.70 million and the highest estimate coming in at $52.00 million. The business is expected to report its next earnings report after the market closes on Monday, August 12th.

According to Zacks, analysts expect that Greenlane will report full-year sales of $214.40 million for the current financial year, with estimates ranging from $210.20 million to $218.60 million. For the next financial year, analysts expect that the business will post sales of $281.65 million, with estimates ranging from $280.29 million to $283.00 million. Zacks’ sales averages are an average based on a survey of analysts that follow Greenlane.

A number of brokerages have recently commented on GNLN. Canaccord Genuity began coverage on shares of Greenlane in a research report on Monday, May 13th. They issued a “speculative buy” rating and a $22.00 target price for the company. Northland Securities started coverage on shares of Greenlane in a research report on Monday, May 13th. They set an “outperform” rating and a $23.00 price objective for the company. Cowen started coverage on shares of Greenlane in a research report on Monday, May 13th. They set an “outperform” rating and a $21.00 price objective for the company. LADENBURG THALM/SH SH started coverage on shares of Greenlane in a research report on Monday, May 13th. They set a “buy” rating and a $22.00 price objective for the company. Finally, Roth Capital started coverage on shares of Greenlane in a research report on Tuesday, May 14th. They set a “buy” rating and a $22.50 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $22.10.

Shares of NASDAQ GNLN traded up $0.03 during mid-day trading on Friday, reaching $8.01. The company’s stock had a trading volume of 156,809 shares, compared to its average volume of 251,845. The business has a 50-day simple moving average of $9.09. Greenlane has a 1-year low of $7.31 and a 1-year high of $29.00.

An institutional investor recently bought a new position in Greenlane stock. TimesSquare Capital Management LLC bought a new position in shares of Greenlane Holdings (NASDAQ:GNLN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,360,000 shares of the company’s stock, valued at approximately $13,042,000. TimesSquare Capital Management LLC owned 1.45% of Greenlane at the end of the most recent reporting period. 0.07% of the stock is currently owned by institutional investors.

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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