Greenlane (NASDAQ:GNLN) Posts Earnings Results, Beats Estimates By $1,099,993.94 EPS

Greenlane (NASDAQ:GNLN) posted its earnings results on Friday. The company reported ($6.06) EPS for the quarter, topping analysts’ consensus estimates of ($1,100,000.00) by $1,099,993.94, FiscalAI reports. The business had revenue of ($0.34) million for the quarter, compared to analysts’ expectations 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

Shares of Greenlane stock remained flat at $1.93 during trading on Friday. 3,298 shares of the stock were exchanged, compared to its average volume of 18,423. Greenlane has a 1-year low of $1.51 and a 1-year high of $37.97. The firm’s fifty day simple moving average is $2.35 and its two-hundred day simple moving average is $4.30. The firm has a market capitalization of $1.22 million, a P/E ratio of -0.02 and a beta of 1.88.

Wall Street Analyst Weigh In

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