Greenlane Holdings Inc. [GNLN] Is Currently 14.37 above its 200 Period Moving Avg: What Does This Mean?


Greenlane Holdings Inc. [NASDAQ: GNLN] gained 14.37% or 0.08 points to close at $0.61 with a heavy trading volume of 2488662 shares. The company report on March 23, 2022 that Greenlane to Host Fourth Quarter and Full Year 2021 Conference Call on March 31, 2022 at 8:30 a.m. Eastern Time.

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Greenlane Holdings, Inc. (“Greenlane” or “the Company”) (NASDAQ:GNLN), a global house of brands and one of the largest sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, is scheduled to host a conference call and webcast on Thursday, March 31, 2022 at 8:30 a.m. Eastern time to discuss its financial and operational results for its fourth quarter and full year ended December 31, 2021, followed by a question-and-answer session.

The call will be webcast with an accompanying slide deck, which will be accessible by visiting the Financial Results page of Greenlane’s investor relations website. The Company will report its financial results for the fourth quarter and full year after market close on Wednesday, March 30th, 2022.

It opened the trading session at $0.55, the shares rose to $0.625 and dropped to $0.53, the range by which the price of stock traded the whole day. The daily chart for GNLN points out that the company has recorded -76.79% loss over the past six months. However, it is still -52.5% lower than its most recent low trading price.

If we look at the average trading volume of 1.01M shares, GNLN reached to a volume of 2488662 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Greenlane Holdings Inc. [GNLN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GNLN shares is $4.22 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GNLN stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 0.05, with the Price to Sales ratio for GNLN stock in the period of the last 12 months amounting to 0.43. The Price to Book ratio for the last quarter was 0.14, with the Price to Cash per share for the same quarter was set at 0.13.

Trading performance analysis for GNLN stock

Greenlane Holdings Inc. [GNLN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 29.81. With this latest performance, GNLN shares gained by 16.35% in over the last four-week period, additionally sinking by -76.79% over the last 6 months – not to mention a drop of -87.43% 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 57.90, with the RSI for the last a single of trading hit 68.83, and the three-weeks RSI is set at 50.15 for Greenlane Holdings Inc. [GNLN]. The present Moving Average for the last 50 days of trading for this stock 0.6273, while it was recorded at 0.5293 for the last single week of trading, and 1.9664 for the last 200 days.

Greenlane Holdings Inc. [GNLN]: A deeper dive into fundamental analysis

Greenlane Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 2.40.

An analysis of insider ownership at Greenlane Holdings Inc. [GNLN]

There are presently around $11 million, or 20.30% of GNLN stock, in the hands of institutional investors. The top three institutional holders of GNLN stocks are: ADAGE CAPITAL PARTNERS GP, L.L.C. with ownership of 2,536,630, which is approximately 0% of the company’s market cap and around 7.70% of the total institutional ownership; VANGUARD GROUP INC, holding 2,496,254 shares of the stock with an approximate value of $1.51 million in GNLN stocks shares; and MERLIN CAPITAL LLC, currently with $1.21 million in GNLN stock with ownership of nearly New of the company’s market capitalization.

Positions in Greenlane Holdings Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 49 institutional holders increased their position in Greenlane Holdings Inc. [NASDAQ:GNLN] by around 8,272,539 shares. Additionally, 41 investors decreased positions by around 6,954,289 shares, while 40 investors held positions by with 2,775,456 shares. The mentioned changes placed institutional holdings at 18,002,284 shares, according to the latest SEC report filing. GNLN stock had 20 new institutional investments in for a total of 3,037,173 shares, while 28 institutional investors sold positions of 1,384,235 shares during the same period.