Greenlane Stock Scheduled to Reverse Split on Monday, April 6th (NASDAQ:GNLN)

Greenlane Holdings, Inc. (NASDAQ:GNLN) shares are going to reverse split on Monday, April 6th. The 1-8 reverse split was announced on Wednesday, April 1st. The number of shares owned by shareholders will be adjusted after the market closes on Friday, April 3rd.

Greenlane Trading Down 21.6%

Shares of GNLN stock opened at $0.29 on Thursday. The company has a market capitalization of $2.31 million, a price-to-earnings ratio of 0.00 and a beta of 1.32. Greenlane has a 1-year low of $0.26 and a 1-year high of $228.38. The stock’s fifty day simple moving average is $0.88 and its 200-day simple moving average is $2.23.

Greenlane (NASDAQ:GNLN) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $8.46 earnings per share for the quarter. The firm had revenue of $1.36 million for the quarter. Greenlane had a negative return on equity of 164.19% and a negative net margin of 532.82%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Greenlane in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Greenlane has a consensus rating of “Sell”.

About Greenlane

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.