Insider Selling: Greenlane Holdings (NASDAQ:GNLN) Insider Sells $99,600.00 in Stock

Greenlane Holdings (NASDAQ:GNLN) insider Adam Schoenfeld sold 40,000 shares of the stock in a transaction on Friday, October 9th. The stock was sold at an average price of $2.49, for a total transaction of $99,600.00. Following the completion of the sale, the insider now owns 39,900 shares in the company, valued at $99,351. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Adam Schoenfeld also recently made the following trade(s):

  • On Monday, September 28th, Adam Schoenfeld sold 25,500 shares of Greenlane stock. The stock was sold at an average price of $2.09, for a total transaction of $53,295.00.
  • On Thursday, August 27th, Adam Schoenfeld sold 13,174 shares of Greenlane stock. The stock was sold at an average price of $2.53, for a total transaction of $33,330.22.

Greenlane stock opened at $2.86 on Friday. The company has a market cap of $267.94 million, a P/E ratio of -1.88 and a beta of 2.15. Greenlane Holdings has a 1-year low of $1.02 and a 1-year high of $4.49. The company has a fifty day simple moving average of $2.48 and a 200 day simple moving average of $2.87. The company has a current ratio of 4.42, a quick ratio of 2.72 and a debt-to-equity ratio of 0.09.

Greenlane (NASDAQ:GNLN) last released its earnings results on Friday, August 7th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). The business had revenue of $32.40 million during the quarter, compared to the consensus estimate of $32.40 million. Greenlane had a negative net margin of 10.64% and a negative return on equity of 16.22%. On average, equities research analysts forecast that Greenlane Holdings will post -0.48 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Greenlane by 5.7% in the first quarter. BlackRock Inc. now owns 540,742 shares of the company’s stock valued at $930,000 after purchasing an additional 29,011 shares in the last quarter. FNY Investment Advisers LLC grew its position in shares of Greenlane by 11.2% in the 3rd quarter. FNY Investment Advisers LLC now owns 463,259 shares of the company’s stock valued at $1,037,000 after acquiring an additional 46,511 shares during the period. AdvisorShares Investments LLC grew its position in shares of Greenlane by 57.4% in the 2nd quarter. AdvisorShares Investments LLC now owns 288,656 shares of the company’s stock valued at $1,149,000 after acquiring an additional 105,215 shares during the period. Healthcare Value Capital LLC grew its position in shares of Greenlane by 11.1% in the 2nd quarter. Healthcare Value Capital LLC now owns 250,000 shares of the company’s stock valued at $995,000 after acquiring an additional 25,000 shares during the period. Finally, State Street Corp grew its position in shares of Greenlane by 83.9% in the 1st quarter. State Street Corp now owns 132,494 shares of the company’s stock valued at $228,000 after acquiring an additional 60,463 shares during the period. 4.73% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently commented on GNLN shares. Canaccord Genuity restated a “buy” rating and set a $4.00 price objective on shares of Greenlane in a report on Thursday, August 20th. BidaskClub lowered shares of Greenlane from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 18th. Northland Securities restated a “buy” rating on shares of Greenlane in a report on Friday, August 7th. Finally, Zacks Investment Research lowered shares of Greenlane from a “buy” rating to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $3.88.

About Greenlane

Greenlane Holdings, Inc distribute consumption accessories and vaporization products to wholesale and retail customers in the United States and Canada. The company offers vaporizers and parts, cleaning products, grinders and storage containers, pipes, rolling papers, and customized lines of specialty packaging.

Featured Article: Cost of Goods Sold (COGS)

Insider Buying and Selling by Quarter for Greenlane (NASDAQ:GNLN)

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