Greenlane Stock Set to Reverse Split on Monday, April 6th (NASDAQ:GNLN)

Greenlane Holdings, Inc. (NASDAQ:GNLN)’s stock is going to reverse split on the morning of Monday, April 6th. The 1-8 reverse split was announced on Wednesday, April 1st. The number of shares owned by shareholders will be adjusted after the market closes on Friday, April 3rd.

Greenlane Stock Down 21.6%

Shares of Greenlane stock opened at $0.29 on Thursday. The business has a 50-day moving average price of $0.88 and a 200 day moving average price of $2.23. Greenlane has a fifty-two week low of $0.26 and a fifty-two week high of $228.38. The firm has a market cap of $2.31 million, a P/E ratio of 0.00 and a beta of 1.32.

Greenlane (NASDAQ:GNLN) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $8.46 earnings per share (EPS) for the quarter. Greenlane had a negative return on equity of 164.19% and a negative net margin of 532.82%.The firm had revenue of $1.36 million for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Greenlane in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Greenlane Company Profile

Greenlane Holdings, Inc is a leading global distributor and direct-to-consumer retailer of premium cannabis consumption accessories and lifestyle products. The company’s portfolio spans hardware such as vaporizers, glassware, rolling papers, storage solutions, and concentrate tools, alongside branded and proprietary offerings designed to meet the evolving needs of both consumers and retail partners in the cannabis and hemp sectors.

Through a multi-channel platform, Greenlane serves a diverse customer base that includes smoke shops, dispensaries, specialty retailers and e-commerce operators.