Greenlane (NASDAQ:GNLN) Posts Quarterly Earnings Results, Beats Estimates By $1,099,993.94 EPS

Greenlane (NASDAQ:GNLN) posted its earnings results on Friday. The company reported ($6.06) EPS for the quarter, beating the consensus estimate of ($1,100,000.00) by $1,099,993.94, FiscalAI reports. The firm had revenue of ($0.34) million for the quarter, compared to analysts’ expectations of $35.56 million. Greenlane had a negative return on equity of 234.48% and a negative net margin of 3,001.59%.

Greenlane Price Performance

GNLN remained flat at $1.93 during trading on Friday. 3,298 shares of the company’s stock were exchanged, compared to its average volume of 18,423. Greenlane has a 12-month low of $1.51 and a 12-month high of $37.97. The firm has a fifty day moving average of $2.35 and a two-hundred day moving average of $4.30. The firm has a market cap of $1.22 million, a price-to-earnings ratio of -0.02 and a beta of 1.88.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Greenlane in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Greenlane Company Profile

Greenlane Holdings, Inc is a leading global distributor and direct-to-consumer retailer of premium cannabis consumption accessories and lifestyle products. The company’s portfolio spans hardware such as vaporizers, glassware, rolling papers, storage solutions, and concentrate tools, alongside branded and proprietary offerings designed to meet the evolving needs of both consumers and retail partners in the cannabis and hemp sectors.

Through a multi-channel platform, Greenlane serves a diverse customer base that includes smoke shops, dispensaries, specialty retailers and e-commerce operators.