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

Greenlane (NASDAQ:GNLN) released its earnings results on Friday. The company reported ($6.06) EPS for the quarter, topping analysts’ consensus estimates of ($1,100,000.00) by $1,099,993.94, FiscalAI reports. The company 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 Stock Performance

GNLN remained flat at $1.93 during trading hours on Friday. The company had a trading volume of 3,298 shares, compared to its average volume of 18,423. The firm’s 50-day simple moving average is $2.35 and its two-hundred day simple moving average is $4.30. Greenlane has a 52 week low of $1.51 and a 52 week high of $37.97.

Analyst Ratings Changes

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