Greenlane Holdings (NASDAQ:GNLN) Expected to Announce Quarterly Sales of $49.35 Million
Brokerages expect Greenlane Holdings (NASDAQ:GNLN) to post $49.35 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Greenlane’s earnings, with estimates ranging from $46.70 million to $52.00 million. The business is expected to announce its next quarterly earnings results on Monday, January 1st.
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 anticipate that the business will report sales of $281.65 million, with estimates ranging from $280.29 million to $283.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Greenlane.
Several research analysts have commented on the company. LADENBURG THALM/SH SH downgraded PennantPark Investment from a “buy” rating to a “neutral” rating in a report on Monday, May 13th. Canaccord Genuity cut Magellan Aerospace from a “buy” rating to a “hold” rating and dropped their target price for the company from C$21.00 to C$20.00 in a research report on Monday, May 13th. Cowen reaffirmed a “buy” rating on shares of Alector in a research report on Monday, May 13th. Northland Securities began coverage on Greenlane in a research report on Monday, May 13th. They set an “outperform” rating and a $23.00 target price on the stock. Finally, Roth Capital set a $10.00 target price on Savara and gave the company a “hold” rating in a research report on Tuesday, May 14th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $22.10.
In other news, insider Sasha Kadey sold 11,639 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $15.81, for a total value of $184,012.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jay M. Scheiner sold 8,729 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $15.81, for a total value of $138,005.49. The disclosure for this sale can be found here. Insiders have sold a total of 1,045,543 shares of company stock worth $16,530,035 in the last ninety days.
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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