In a report released today, Michael Grondahl from Northland Securities maintained a Buy rating on Greenlane Holdings (GNLN), with a price target of $5.00. The company’s shares closed last Tuesday at $2.86.
According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 19.8% and a 60.9% success rate. Grondahl covers the Financial sector, focusing on stocks such as Altisource Portfolio Solutions SA, International Money Express, and Front Yard Residential.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Greenlane Holdings with a $5.00 average price target.
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Based on Greenlane Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $32.4 million and GAAP net loss of $2.05 million. In comparison, last year the company earned revenue of $52.99 million and had a GAAP net loss of $1.77 million.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GNLN in relation to earlier this year.
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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.
