Greenlane Holdings Inc (NASDAQ:GNLN) shares, rose in value, with the stock price up by 4.86% to the previous day’s close as strong demand from buyers drove the stock to $0.53.
Actively observing the price movement in the last trading, the stock closed the session at $0.51. Referring to stock’s 52-week performance, its high was $3.80, and the low was $0.37. On the whole, GNLN has fluctuated by 16.62% over the past month.
Analysts have estimated the company’s revenue for the quarter at $11.8 million, with a low estimate of $21.39 million and a high estimate of $21.39 million. According to the average forecast, sales growth in current quarter could jump down -58.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $89.91 million, representing a decrease of -34.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that GNLN’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of GNLN currently trading nearly 6.15% and 14.08% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 55.08, while the 7-day volatility ratio is showing 21.74% which for the 30-day chart, stands at 17.29%. Furthermore, Greenlane Holdings Inc (GNLN)’s beta value is 1.88, and its average true range (ATR) is 0.08.
A comparison of Greenlane Holdings Inc (GNLN) with its peers suggests the former has fared considerably weaker in the market. GNLN showed an intraday change of 4.86% in last session, and over the past year, it shrunk by -85.93%%.
Data on historical trading for Greenlane Holdings Inc (NASDAQ:GNLN) indicates that the trading volumes over the past 10 days have averaged 0.46 million and over the past 3 months, they’ve averaged 109.16K. According to company’s latest data on outstanding shares, there are 3.73 million shares outstanding.
Nearly 0.98% of Greenlane Holdings Inc’s shares belong to company insiders and institutional investors own 13.95% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 51760.0 shares as on Mar 15, 2024, resulting in a short ratio of 1.73. According to the data, the short interest in Greenlane Holdings Inc (GNLN) stood at 1.39% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 25900.0. The stock has risen by 3.24% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GNLN stock heading into the next quarter.
