Greenlane Holdings Inc. [NASDAQ: GNLN] jumped around 0.22 points on Wednesday, while shares priced at $2.39 at the close of the session, up 10.14%. The company report on October 4, 2021 that Greenlane Appoints Director Donald Hunter as Chairman of the Board.
Company Reaffirms Commitment to Strong Corporate Governance and Independent Board Oversight.
Greenlane Holdings, Inc. (“Greenlane” or “the Company”) (NASDAQ:GNLN), one of the largest global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, announced the appointment of independent director Donald Hunter as Chairman of the Board, effective September 30, 2021. Aaron LoCascio, the former Chairman of the Board, will remain on the Company’s Board of Directors.
Greenlane Holdings Inc. stock is now -39.65% down from its year-to-date (YTD) trading value. GNLN Stock saw the intraday high of $2.44 and lowest of $2.28 per share. The company’s 52-week high price is 8.73, which means current price is +11.68% above from all time high which was touched on 02/10/21.
Compared to the average trading volume of 862.98K shares, GNLN reached a trading volume of 3626919 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Greenlane Holdings Inc. [GNLN]?
Jefferies have made an estimate for Greenlane Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 01, 2021. While these analysts kept the previous recommendation, Cowen raised their target price to Outperform. The new note on the price target was released on September 10, 2021, representing the official price target for Greenlane Holdings Inc. stock. Previously, the target price had yet another raise to $6, while Alliance Global Partners analysts kept a Buy rating on GNLN stock.
The Average True Range (ATR) for Greenlane Holdings Inc. is set at 0.17, with the Price to Sales ratio for GNLN stock in the period of the last 12 months amounting to 1.71. The Price to Book ratio for the last quarter was 2.66, with the Price to Cash per share for the same quarter was set at 0.12.
How has GNLN stock performed recently?
Greenlane Holdings Inc. [GNLN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.91. With this latest performance, GNLN shares dropped by -6.64% in over the last four-week period, additionally sinking by -53.59% over the last 6 months – not to mention a drop of -19.80% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GNLN stock in for the last two-week period is set at 47.08, with the RSI for the last a single of trading hit 50.19, and the three-weeks RSI is set at 45.50 for Greenlane Holdings Inc. [GNLN]. The present Moving Average for the last 50 days of trading for this stock 2.53, while it was recorded at 2.26 for the last single week of trading, and 4.15 for the last 200 days.
Greenlane Holdings Inc. [GNLN]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Greenlane Holdings Inc. [GNLN] shares currently have an operating margin of -27.73 and a Gross Margin at -3.37. Greenlane Holdings Inc.’s Net Margin is presently recorded at -10.50.
Return on Total Capital for GNLN is now -36.72, given the latest momentum, and Return on Invested Capital for the company is -48.30. Return on Equity for this stock declined to -77.46, with Return on Assets sitting at -10.53. When it comes to the capital structure of this company, Greenlane Holdings Inc. [GNLN] has a Total Debt to Total Equity ratio set at 79.02. Additionally, GNLN Total Debt to Total Capital is recorded at 44.14, with Total Debt to Total Assets ending up at 9.71. Long-Term Debt to Equity for the company is recorded at 70.18, with the Long-Term Debt to Total Capital now at 39.20.
Reflecting on the efficiency of the workforce at the company, Greenlane Holdings Inc. [GNLN] managed to generate an average of -$54,989 per employee. Receivables Turnover for the company is 14.70 with a Total Asset Turnover recorded at a value of 1.00.Greenlane Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 2.20.
Insider trade positions for Greenlane Holdings Inc. [GNLN]
There are presently around $17 million, or 10.60% of GNLN stock, in the hands of institutional investors. The top three institutional holders of GNLN stocks are: ADVISORSHARES INVESTMENTS LLC with ownership of 1,039,013, which is approximately -16.647% of the company’s market cap and around 8.10% of the total institutional ownership; PENSERRA CAPITAL MANAGEMENT LLC, holding 969,229 shares of the stock with an approximate value of $2.32 million in GNLN stocks shares; and VANGUARD GROUP INC, currently with $1.95 million in GNLN stock with ownership of nearly 84.626% of the company’s market capitalization.
Positions in Greenlane Holdings Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 43 institutional holders increased their position in Greenlane Holdings Inc. [NASDAQ:GNLN] by around 1,634,695 shares. Additionally, 27 investors decreased positions by around 579,058 shares, while 14 investors held positions by with 5,043,364 shares. The mentioned changes placed institutional holdings at 7,257,117 shares, according to the latest SEC report filing. GNLN stock had 15 new institutional investments in for a total of 192,499 shares, while 12 institutional investors sold positions of 238,731 shares during the same period.