Rally Ahead? Greenlane Holdings Inc (NASDAQ:GNLN)

Greenlane Holdings Inc (NASDAQ:GNLN) is trading in a narrow range on Tuesday. The stock has made a small move off its lows the last few days. Today’s move stalled at yesterday’s high, which may tell us that GNLN is headed lower before any march higher.

Market Action

As of 11:56, GNLN stock is trading lower by 1.08% at $3.65. More than 235K shares have traded hands, compared to its 30-day average volume of 769K shares.

GNLN Issues News

Greenlane Accelerates Acquisition Strategy and Achieves Second Consecutive Quarter of Record Greenlane Brands Revenue in Q1 2021

  • Net sales were $34.0 million in Q1 2021, compared to $33.9 million in Q1 2020, an increase of $0.1 million, or 0.4%.
  • Gross profit was $7.3 million, or 21.5% of net sales in Q1 2021, compared to $7.3 million, or 21.6% of net sales in Q1 2020.
  • Cash totaled $12.3 million as of March 31, 2021, a decrease from approximately $30.4 million as of December 31, 2020.
  • Net sales for our United States reporting segment increased $1.5 million, or 5.7% in Q1 2021, to $28.7 million, compared to approximately $27.1 million in the same period in 2020. Net Sales for our Canadian reporting segment decreased to approximately $2.6 million for Q1 2021 compared to approximately $4.4 million in the same period in 2020, primarily due to a decrease of $1.6 million in non-core revenue sales as a result of the Company‚Äôs strategic shift away from low-margin nicotine sales.

Trader Notes

Share Information

SHARES OUTSTANDING16.93 M
SHARE FLOAT (%)15.78 M (93.22%)
% HELD BY INSTITUTIONS40.58

Recent Stock Performance

5-DAY PERF.-5.68%
1-MONTH PERF.-27.29%
3-MONTH PERF.-39.57%
6-MONTH PERF.+27.18%
YTD PERF.-7.83%
1-YEAR PERF.+33.21%

Moving Averages

+/- EMA(20)4.14 (-11.84%)
+/- SMA(50)4.89 (-25.36%)
+/- SMA(200)4.08 (-10.54%)

Pivot Points

NameS3S2S1Pivot PointsR1R2R3
Classic3.25673.38333.53673.66333.81673.94334.0967
Fibonacci3.38333.49033.55643.66333.77033.83643.9433

 

Technical Indicators

SymbolValueResultSymbolValueResult
ADX15.6380NeutralATR140.3808
CCI20-106.5607SellChaikin Money Flow0.0169Neutral
MACD-0.4131SellMoney Flow Index16.5393OverSold
ROC-19.7826SellRSI32.7254Buy
STOCH (14,3)24.3056SellSTOCH RSI0.7834Buy
UO47.5216SellWilliams %R-75.6944Neutral

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