In a report released today, Michael Grondahl from Northland Securities assigned a Buy rating to Greenlane Holdings Inc (GNLN), with a price target of $23. The company’s shares closed on Friday at $16.25.
Grondahl commented:
“We are initiating coverage on Greenlane Holdings, Inc. (Nasdaq: Outperform rating and $22 price target. We believe Greenlane is well positioned to benefit from a continued shift to non-combustion nicotine consumption along with growing CBD and legal cannabis markets. GNLN has a strong position in this distribution network as a partner with well known vaporizer companies, as well as many other products and accessories, and a growing share of internally developed brands.”
According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 22.5% and a 65.5% success rate. Grondahl covers the Financial sector, focusing on stocks such as Front Yard Residential Corporation, Altisource Portfolio Solutions SA, and Health Insurance Innovations.
The word on The Street in general, suggests a Hold analyst consensus rating for Greenlane Holdings Inc.
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The company has a one-year high of $29 and a one-year low of $12.90. Currently, Greenlane Holdings Inc has an average volume of 1.17M.
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Greenlane Holdings, Inc. distributes and supplies vaporization products and accessories for vape shops and dispensaries. It offers packaging, rolling papers, grinders, glass products, and smoking accessories. The company was founded by Aaron LoCascio and Adam Schoenfeld on May 2, 2018 and is headquartered in Boca Raton, FL.
