Jefferies slashes price target on Greenlane Holdings Inc. [GNLN] – find out why.


Greenlane Holdings Inc. [NASDAQ: GNLN] loss -12.15% or -0.02 points to close at $0.15 with a heavy trading volume of 5816347 shares. The company report on July 19, 2022 that Greenlane Completes Sale of Interest in VIBES.

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Company Sells Stake for $5.3 Million In Cash.

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, today announced that it has sold its stake in VIBES Holdings LLC (“VIBES”) for $5.3 million in cash.

It opened the trading session at $0.1625, the shares rose to $0.163 and dropped to $0.145, the range by which the price of stock traded the whole day. The daily chart for GNLN points out that the company has recorded -81.11% loss over the past six months. However, it is still 11.76% higher than its most recent low trading price.

If we look at the average trading volume of 2.97M shares, GNLN reached to a volume of 5816347 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 $2.25 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 0.03, with the Price to Sales ratio for GNLN stock in the period of the last 12 months amounting to 0.14. The Price to Book ratio for the last quarter was 0.08, with the Price to Cash per share for the same quarter was set at 0.03.

Trading performance analysis for GNLN stock

Greenlane Holdings Inc. [GNLN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -24.82. With this latest performance, GNLN shares dropped by -41.60% in over the last four-week period, additionally sinking by -81.11% over the last 6 months – not to mention a drop of -96.00% 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 23.80, with the RSI for the last a single of trading hit 16.69, and the three-weeks RSI is set at 28.39 for Greenlane Holdings Inc. [GNLN]. The present Moving Average for the last 50 days of trading for this stock 0.2511, while it was recorded at 0.1749 for the last single week of trading, and 0.7791 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Greenlane Holdings Inc. [GNLN] shares currently have an operating margin of -31.51 and a Gross Margin at -6.64. Greenlane Holdings Inc.’s Net Margin is presently recorded at -18.42.

Return on Equity for this stock declined to -32.26, with Return on Assets sitting at -14.97.

Greenlane Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.50.

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

There are presently around $3 million, or 12.80% of GNLN stock, in the hands of institutional investors. The top three institutional holders of GNLN stocks are: MERLIN CAPITAL LLC with ownership of 3,099,396, which is approximately 36.782% of the company’s market cap and around 2.60% of the total institutional ownership; ADAGE CAPITAL PARTNERS GP, L.L.C., holding 2,536,630 shares of the stock with an approximate value of $0.42 million in GNLN stocks shares; and VANGUARD GROUP INC, currently with $0.37 million in GNLN stock with ownership of nearly -9.868% of the company’s market capitalization.

Positions in Greenlane Holdings Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 28 institutional holders increased their position in Greenlane Holdings Inc. [NASDAQ:GNLN] by around 2,378,427 shares. Additionally, 47 investors decreased positions by around 4,066,148 shares, while 44 investors held positions by with 10,459,662 shares. The mentioned changes placed institutional holdings at 16,904,237 shares, according to the latest SEC report filing. GNLN stock had 12 new institutional investments in for a total of 199,898 shares, while 18 institutional investors sold positions of 1,045,089 shares during the same period.