Greenlane (NASDAQ:GNLN) Releases Quarterly Earnings Results, Beats Expectations By $1,099,993.94 EPS

Greenlane (NASDAQ:GNLN) released its quarterly earnings data on Friday. The company reported ($6.06) earnings per share for the quarter, beating the consensus estimate of ($1,100,000.00) by $1,099,993.94, FiscalAI reports. The company had revenue of ($0.34) million during the quarter, compared to analyst estimates of $35.56 million. Greenlane had a negative net margin of 3,001.59% and a negative return on equity of 234.48%.

Greenlane Stock Performance

Greenlane stock remained flat at $1.93 during trading on Friday. The company had a trading volume of 3,298 shares, compared to its average volume of 18,423. The firm has a 50 day simple moving average of $2.35 and a 200 day simple moving average of $4.30. Greenlane has a 1-year low of $1.51 and a 1-year high of $37.97.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Greenlane in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Greenlane currently has an average 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.