Greenlane (NASDAQ:GNLN) Announces Quarterly Earnings Results

Greenlane (NASDAQ:GNLN) released its quarterly earnings results on Tuesday. The company reported $8.46 EPS for the quarter, FiscalAI reports. Greenlane had a negative return on equity of 164.19% and a negative net margin of 532.82%.The business had revenue of $1.36 million during the quarter.

Greenlane Stock Performance

Shares of Greenlane stock traded down $0.09 during mid-day trading on Wednesday, hitting $0.28. 63,351 shares of the stock were exchanged, compared to its average volume of 594,406. Greenlane has a 12 month low of $0.26 and a 12 month high of $228.38. The company has a 50-day simple moving average of $0.91 and a 200 day simple moving average of $2.24. The company has a market capitalization of $2.26 million, a P/E ratio of 0.00 and a beta of 1.24.

Analyst Ratings Changes

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