Greenlane (NASDAQ:GNLN) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Greenlane (NASDAQ:GNLN) released its quarterly earnings results on Tuesday. The company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.12, Fidelity Earnings reports. Greenlane had a negative return on equity of 17.49% and a negative net margin of 9.97%.

NASDAQ:GNLN traded up $0.11 during trading hours on Thursday, hitting $5.41. The company’s stock had a trading volume of 22,419 shares, compared to its average volume of 983,387. The business’s 50-day moving average is $5.69 and its two-hundred day moving average is $4.18. The company has a market capitalization of $503.95 million, a PE ratio of -4.18 and a beta of 2.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.74 and a current ratio of 2.73. Greenlane has a 52-week low of $1.43 and a 52-week high of $8.73.

In other Greenlane news, insider Adam Schoenfeld sold 35,000 shares of the stock in a transaction on Friday, January 29th. The stock was sold at an average price of $4.51, for a total value of $157,850.00. Following the completion of the transaction, the insider now owns 17,667 shares in the company, valued at $79,678.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Aaron Locascio sold 44,400 shares of the stock in a transaction on Wednesday, January 27th. The stock was sold at an average price of $4.35, for a total value of $193,140.00. Following the completion of the transaction, the chief executive officer now owns 110,775 shares of the company’s stock, valued at approximately $481,871.25. The disclosure for this sale can be found here. Insiders sold 114,400 shares of company stock valued at $542,790 in the last quarter. 83.59% of the stock is currently owned by company insiders.

Separately, Zacks Investment Research upgraded Greenlane from a “sell” rating to a “hold” rating in a research note on Wednesday, February 24th.

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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Earnings History for Greenlane (NASDAQ:GNLN)

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