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Greenlane (GNLN, $3.02) shares rating reinstated outperform at Cowen
Shares of Greenlane Holdings was reinstated outperform rating by analysts at Cowen.
Cowen analysts now have a price target of $5 a share. The analysts are bullish after Greenlane closed its merger with KushCo. on Sept. 1. "Combined, the company will be a clear leader in the ancillary cannabis space where distinct customer bases should provide a platform for cross-selling opportunities and scale in addition to cost efficiencies," Cowen analysts mentioned in a note.
However, Cowen analysts also mentioned that Greenlane could experience some challenges from port disruptions and shipping delays – factors that were largely responsible for the company’s withdrawal of its 2021 guidance for between $310 million and $330 million in revenue with a gross margin between 22% and 24%, the analysts said pointed out.
GNLN's RSI Oscillator ascends from oversold territory
The RSI Oscillator for GNLN moved out of oversold territory on May 13, 2022. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 33 similar instances when the indicator left oversold territory. In 30 of the 33 cases the stock moved higher. This puts the odds of a move higher at 90%.
Current price $0.34 crossed the resistance line at $0.99 and is trading between $0.99 resistance and $-8.21 support lines. Throughout the month of 04/12/22 - 05/13/22, the price experienced a -24% Downtrend. During the week of 05/06/22 - 05/13/22, the stock fell -4%.
The Stochastic Indicator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 32 of 45 cases where GNLN's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 71%.
The Moving Average Convergence Divergence (MACD) for GNLN just turned positive on May 13, 2022. Looking at past instances where GNLN's MACD turned positive, the stock continued to rise in 20 of 28 cases over the following month. The odds of a continued upward trend are 71%.
Following a +11.92% 3-day Advance, the price is estimated to grow further. Considering data from situations where GNLN advanced for three days, in 99 of 130 cases, the price rose further within the following month. The odds of a continued upward trend are 76%.
GNLN may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where GNLN declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 90%.
The Aroon Indicator for GNLN entered a downward trend on May 13, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Tickeron has a negative outlook on this ticker and predicts a further decline by more than 4.00% within the next month with a likelihood of 82%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.75.
The Tickeron SMR rating for this company is 7 (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of 62 (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.208) is normal, around the industry mean (9.131). GNLN has a moderately low P/E Ratio (0.000) as compared to the industry average of (15.080). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (16.423). GNLN's Dividend Yield (0.000) is considerably lower than the industry average of (0.058). P/S Ratio (0.079) is also within normal values, averaging (3.635).
The Tickeron Price Growth Rating for this company is 95 (best 1 - 100 worst), indicating slightly worse than average price growth. GNLN’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 100 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. GNLN’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 85, placing this stock worse than average.
The industry is engaged in the growth, preparation for sale, advertisement, and distribution of tobacco and tobacco-related products like cigarettes. In 2017, tobacco companies spent an estimated $9.36 billion marketing cigarettes and smokeless tobacco in the U.S. – an amount that translates to more than $25 million each day (according to a CDC report). Philip Morris International Inc., Altria Group Inc., and British American Tobacco plc are some major cigar makers. In recent times, vaping or the use of e-cigarette (does not burn tobacco) is gaining momentum – several established cigarette makers are trying to expand their footprint in this new market.
The average market capitalization across the Tobacco Industry is 18.8B. The market cap for tickers in the group ranges from 160.4K to 161.9B. PM holds the highest valuation in this group at 161.9B. The lowest valued company is VHUB at 160.4K.
The average weekly price growth across all stocks in the Tobacco Industry was 4.01%. For the same Industry, the average monthly price growth was -1.47%, and the average quarterly price growth was -17.29%. PODAF experienced the highest price growth at 112%, while EVEX experienced the biggest fall at -37.5%.
- 3/30/22 5:32 AM: Greenlane Holdings (GNLN, $0.63) is a top weekly gainer for penny stocks, rising +23.37%
- 3/23/22 4:50 AM: Greenlane Holdings (GNLN, $0.51) is a top weekly gainer for penny stocks, rising +15.87%
The average weekly volume growth across all stocks in the Tobacco Industry was 23.32%. For the same stocks of the Industry, the average monthly volume growth was -36.13% and the average quarterly volume growth was -58.85%
- 4/5/22 5:32 AM: The volume for Greenlane Holdings stock increased for a consecutive 5 days, with an average daily gain of 443%
- 4/1/22 8:43 AM: The volume for Greenlane Holdings stock increased for a consecutive 5 days, with an average daily gain of 547%
- 3/31/22 6:35 AM: The volume for Greenlane Holdings stock increased for a consecutive 5 days, with an average daily gain of 627%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Stocks in the group have a Negative Outlook today, backed by the 15 Indicator. Tickeron has a negative outlook on this group and predicts a further decline by more than 4.00% within the next month with a likelihood of 42%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.16.
30 stocks in the group of tickers confirmed the negative outlook based on the MA50MA10 indicator with average odds of 70%.
The average market capitalization across the group is 4.3B. The market cap for tickers in the group ranges from 0 to 40.5B. ITOCY holds the highest valuation in this group at 40.5B. The lowest valued company is RVBR at 0.
The average weekly price growth across all stocks in the group was -0.6%. For the same group, the average monthly price growth was -8.1%, and the average quarterly price growth was 3.16%. GBUX experienced the highest price growth at 95.45%, while SIMP experienced the biggest fall at -25.93%.
- 5/14/22 4:23 AM: Ferguson (FERG, $122.09) was a top weekly gainer, with a +5.46% jump
- 5/14/22 4:23 AM: ADDvantage Technologies Group (AEY, $1.26) is a top weekly gainer for penny stocks, rising +15.6%
- 5/14/22 4:22 AM: CHALICE BRANDS (CHALF, $0.27) was a top weekly gainer, with a +49.94% jump. Expect an Uptrend reversal
The average weekly volume growth across all stocks in the group was 21.58%. For the same stocks of the group, the average monthly volume growth was 257.42% and the average quarterly volume growth was 233.55%
- 5/14/22 4:16 AM: The volume for Kintara Therapeutics stock increased for two consecutive days, resulting in a record-breaking daily growth of 297% of the 65-Day Volume Moving Average
- 5/13/22 4:49 AM: The volume for Kintara Therapeutics stock increased for one day, resulting in a record-breaking daily growth of 282% of the 65-Day Volume Moving Average
- 5/12/22 5:33 AM: The volume for Ferguson stock increased for three consecutive days, resulting in a record-breaking daily growth of 327% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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