Brokerages Expect Greenlane Holdings (NASDAQ:GNLN) to Post ($0.03) EPS

Greenlane Holdings (NASDAQ:GNLN) has been given a consensus broker rating score of 1.20 (Strong Buy) from the five analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a buy recommendation and four have issued a strong buy recommendation on the company.

Analysts have set a 12 month consensus price target of $22.10 for the company and are predicting that the company will post ($0.03) EPS for the current quarter, according to Zacks. Zacks has also given Greenlane an industry rank of 148 out of 256 based on the ratings given to its competitors.

Several research firms have issued reports on GNLN. LADENBURG THALM/SH SH downgraded PennantPark Investment from a “buy” rating to a “neutral” rating 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. Canaccord Genuity downgraded Magellan Aerospace from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$21.00 to C$20.00 in a research report on Monday, May 13th. Roth Capital set a $10.00 target price on Savara and gave the stock a “hold” rating in a research report on Tuesday, May 14th. Finally, Cowen restated a “buy” rating on shares of Alector in a research report on Monday, May 13th.

In related news, CEO Aaron Locascio sold 644,860 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $15.81, for a total value of $10,195,236.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jay M. Scheiner sold 5,237 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $15.81, for a total value of $82,796.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,045,543 shares of company stock worth $16,530,035.

Shares of NASDAQ:GNLN traded down $0.23 during trading on Friday, hitting $7.77. 267,798 shares of the company were exchanged, compared to its average volume of 346,933. The firm’s 50 day moving average is $12.20. Greenlane has a 52-week low of $7.39 and a 52-week high of $29.00.

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.

Further Reading: Why do corrections happen?

Get a free copy of the Zacks research report on Greenlane (GNLN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Greenlane (NASDAQ:GNLN)

Receive News & Ratings for Greenlane Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Greenlane and related companies with MarketBeat.com's FREE daily email newsletter.