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GNLN

Greenlane

$8.86

0.27 (3.14%)

16:26
08/12/19
08/12
16:26
08/12/19
16:26

Greenlane reports Q2 revenue $52.99M, consensus $50.02M

Reports Q2 adjusted EBITDA ($1.234M) vs $1.122M last year. "We generated record second quarter net sales, resulting in over 30% year-over-year growth. We saw growth across multiple product categories in both the U.S. and Canada for the quarter," stated Aaron LoCascio, Greenlane's Chairman and Chief Executive Officer. "Sales of JUUL increased nearly 70% over the prior year, led by strong gains in Canada along with continued growth in the U.S. We are working closely with JUUL to support the mission of helping adult smokers to make the switch from combustible cigarettes and executed successful promotions and support for lower nicotine products to build share in the e-cigarette category. We signed several new distribution agreements during the quarter, and we have seen strong initial sales resulting from of our recent entry into the large and growing hemp-derived CBD category. We see considerable opportunities for future growth across the cannabis accessories, CBD and liquid nicotine markets and continue to invest in the people and infrastructure to support long-term growth of each of these categories to drive shareholder value. We ended the quarter in a strong financial position with $69 million of cash, providing ample capital to accelerate our growth through potential future acquisitions."

  • 12

    Aug

GNLN Greenlane
$8.86

0.27 (3.14%)

05/13/19
NORL
05/13/19
INITIATION
Target $23
NORL
Outperform
Greenlane initiated with an Outperform at Northland
Northland analyst Mike Grondahl initiated Greenlane with an Outperform and $23 price target saying it is well positioned to benefit from the shift to non-combustion nicotine consumption along with growing CBD and legal cannabis markets. Grondahl said Greenlane has a strong position in the distribution network as a partner with well known vaporizer companies, combined with many other products and accessories, and a growing share of internally developed brands.
05/14/19
ROTH
05/14/19
INITIATION
Target $22.5
ROTH
Buy
Greenlane initiated with a Buy at Roth Capital
Roth Capital analyst Scott Fortune started coverage of Greenlane with a Buy rating and $22.50 price target. The analyst expects a number of growth drivers, including new strategic supplier partnerships, brand development, increased regulations in packaging, securing new cannabis operators in expanding legal states, deepening customer relationships cross-selling opportunity as the one stop-shop, e-commerce reach, and overall cannabis derivative use.
06/20/19
COWN
06/20/19
NO CHANGE
Target $21
COWN
Outperform
Greenlane fundamentals remain intact, selloff 'overdone,' says Cowen
Cowen analyst Vivien Azer believes the selloff in Greenlane shares appears "overdone" following news of the potential e-cigarette ban in San Francisco. The analyst remains confident in the company's long-term fundamentals and believes valuation remains attractive. Azer would continue to be a buyer at current levels. She reiterates an Outperform rating and $21 price target on the shares.
06/21/19
06/21/19
NO CHANGE

Former FDA head sees difficulty in JUUL getting PMTA approval, says Cowen
Cowen analyst Vivien Azer wrote in a note titled "Gottlieb: Out of FDA, Not Out of Opinions" that former FDA Commissioner Scott Gottlieb commented that he believes it will be difficult for JUUL to get PMTA approval, which has put vapor exposed stocks under pressure. Azer said that Altria (MO) has direct exposure as it has a 35% stake in JUUL, and Greenlane Holdings (GNLN) also has exposure as JUUL accounted for 36% of its sales in 2018. However, the analyst noted that JUUL is "already grand-fathered into the market today, given it was marketed prior to August 2016." Also, JUUL has been "among the most proactive participants in the market, having gone further than the FDA has contemplated in terms of addressing youth access." Azer has a Market Perform rating on Altria, and an Outperform rating on Greenlane.

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$15.40

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ANGI

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$8.18

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BRY

Berry Petroleum

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CSWI

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OAS

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EE

El Paso Electric

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HON

Honeywell

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VIVE

Viveve

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PRGO

Perrigo

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  • 01

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UAL

United Continental

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MBIO

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BCLI

BrainStorm

$3.63

0.055 (1.54%)

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WLK

Westlake Chemical

$61.27

0.66 (1.09%)

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