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

Greenlane Holdings, Inc. (NASDAQ:GNLN)’s stock is set to reverse split before the market opens 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 Price Performance

Shares of GNLN stock opened at $0.29 on Thursday. Greenlane has a 1 year low of $0.26 and a 1 year high of $228.38. The company has a market cap of $2.31 million, a PE ratio of 0.00 and a beta of 1.32. The stock’s 50 day simple moving average is $0.88 and its two-hundred day simple moving average is $2.23.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Greenlane in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus 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.