$49.35 Million in Sales Expected for Greenlane Holdings (NASDAQ:GNLN) This Quarter

Analysts expect that Greenlane Holdings (NASDAQ:GNLN) will announce $49.35 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Greenlane’s earnings. The highest sales estimate is $52.00 million and the lowest is $46.70 million. The firm is scheduled to announce its next earnings results after the market closes on Monday, August 12th.

On average, 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 fiscal year, analysts forecast that the company will report sales of $281.65 million, with estimates ranging from $280.29 million to $283.00 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Greenlane.

GNLN has been the topic of several research analyst reports. Roth Capital initiated coverage on Greenlane in a research note on Tuesday, May 14th. They issued a “buy” rating and a $22.50 price objective on the stock. Canaccord Genuity initiated coverage on Greenlane in a research note on Monday, May 13th. They issued a “speculative buy” rating and a $22.00 price objective on the stock. LADENBURG THALM/SH SH began coverage on Greenlane in a research note on Monday, May 13th. They issued a “buy” rating and a $22.00 price objective on the stock. Cowen began coverage on Greenlane in a research note on Monday, May 13th. They set an “outperform” rating and a $21.00 target price on the stock. Finally, Northland Securities began coverage on Greenlane in a research note on Monday, May 13th. They set an “outperform” rating and a $23.00 target price on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $22.10.

NASDAQ:GNLN traded up $0.03 on Friday, hitting $8.01. The company’s stock had a trading volume of 156,809 shares, compared to its average volume of 251,845. The firm has a fifty day moving average of $9.09. Greenlane has a one year low of $7.31 and a one 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) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 quarter. Institutional investors own 0.07% of the company’s stock.

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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