In a report released today, Michael Grondahl from Northland Securities maintained a Buy rating on Greenlane Holdings (GNLN), with a price target of $7.00. The company’s shares closed last Wednesday at $4.74.
According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 24.6% and a 59.6% success rate. Grondahl covers the Financial sector, focusing on stocks such as Altisource Portfolio Solutions SA, International Money Express, and WisdomTree Investments.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Greenlane Holdings with a $4.00 average price target.
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Based on Greenlane Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $35.76 million and GAAP net loss of $4.49 million. In comparison, last year the company earned revenue of $44.89 million and had a GAAP net loss of $6.4 million.
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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.
