Creative Planning LLC has recently announced that it has increased stake in Greenlane Holdings Inc. (NASDAQ:GNLN) by 1,898.88%. After grabbing 2.57 million shares, the institutional investor is now in possession of 2.44 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 16.27% having worth around $1.29 million. Moreover, Twin Focus Capital Partners LLC increased its share by 0.15 million to have a control over 0.21 million shares. And The Vanguard Group, Inc. raised its holdings to 41929.0 shares by acquiring 0.15 million shares or 0.96% of the stake.
Greenlane Holdings Inc. (GNLN) concluded trading on 01/12/23 at a closing price of $0.39, with 0.38 million shares of worth about $0.15 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -90.18% during that period and on Thursday the price saw a gain of about 7.59%. Currently the company’s common shares owned by public are about 15.95M shares, out of which, 15.43M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 30 times over the past 12 months. They bought 18,002,324 shares in 10 of the transactions. In 20 selling transactions, insiders dumped 58,071,965 shares.
Cannabis ETF, Vanguard Extended Market Index Fu, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Greenlane Holdings Inc. Cannabis ETF is currently holding 0.49 million shares of worth totaling $0.25 million. The company recently came buying 0.0 shares which brought its stake up to 3.10% of the company’s outstanding shares. Vanguard Total Stock Market Index, after buying 66696.0 shares, have now control over 0.42% of the stake in the company. It holds 0.0 shares of worth $33415.0.
However, the stock later moved at a day high price of 0.3933, or with a gain of 7.59%. Stock saw a price change of 22.72% in past 5 days and over the past one month there was a price change of -19.33%. Year-to-date (YTD), GNLN shares are showing a performance of 36.59% which decreased to -98.08% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.27 but also hit the highest price of $20.40 during that period. The average intraday trading volume for Greenlane Holdings Inc. shares is 629.84K. The stock is currently trading 14.36% above its 20-day simple moving average (SMA20), while that difference is down -8.69% for SMA50 and it goes to -88.95% lower than SMA200.
Creative Planning LLC acquired 2.57 million shares of Greenlane Holdings Inc. having value of about $1.29 million. Data submitted at the U.S SEC by Creative Planning LLC revealed that the firm now holds 2.44 million shares in the company valued at close to $952429.14, or have control over 1,898.88% stake in the company. Greenlane Holdings Inc. (NASDAQ: GNLN) currently have 15.95M outstanding shares and institutions hold larger chunk of about 21.60% of that. Holding of mutual funds in the company is about 16.78% while other institutional holders and individual stake holders have control over 4.67% and 1.35% of the stake respectively.
The stock has a current market capitalization of $5.72M and its 3Y-monthly beta is at 1.85. It has posted earnings per share of -$18.80 in the same period. It has Quick Ratio of 0.80 while making debt-to-equity ratio of 0.16. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GNLN, volatility over the week remained 7.62% while standing at 10.64% over the month.
Analysts are in expectations that Greenlane Holdings Inc. (GNLN) stock would likely to be making an EPS of -$1.22 in the current quarter, while forecast for next quarter EPS is -$1.1 and it is -$3.34 for next year. For the current quarter EPS, analysts have given the company a lowest target -$1.39 which is -$1 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$4.6 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 34.80% while it is estimated to increase by 86.80% in next year.
Analysts at 2 brokerage firms have issued recommendations for the Greenlane Holdings Inc. (GNLN)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 2 Wall Street analysts, 1 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on October 01, 2021 offering a Buy rating for the stock and assigned a target price of $6.30 to it. Coverage by Cowen stated Greenlane Holdings Inc. (GNLN) stock as an Outperform in their note to investors on September 10, 2021, suggesting a price target of $5 for the stock.
