Greenlane Renewables (TSE:GRN) has released its quarterly earnings results, revealing a modest performance for the period. On September 28, 2023, the company announced earnings per share (EPS) of C$0.00, according to FiscalAI. In addition, Greenlane posted a negative return on equity of 88.83% and a net margin of 35.09%.
During the quarter, Greenlane generated revenues of C$11.55 million. Despite the revenue figure, the stock experienced a decline, trading down by C$0.02 to reach C$0.26 per share. A total of 193,211 shares changed hands, slightly exceeding the average trading volume of 192,395 shares.
Financial Metrics and Stock Performance
Greenlane’s financial metrics reveal a quick ratio of 2.05, a current ratio of 1.46, and a debt-to-equity ratio of 9.77. The company’s fifty-day moving average stands at C$0.27, while the two-hundred-day moving average is C$0.17. Over the past year, Greenlane’s stock has fluctuated, hitting a low of C$0.08 and a high of C$0.33.
With a market capitalization of C$40.02 million, the company holds a price-to-earnings ratio of -1.92 and a price-to-earnings growth (P/E/G) ratio of -555.67. The stock’s beta is reported at 4.24, indicating significant volatility.
Insider Activity and Ownership
In other news regarding Greenlane, Candice Alderson, a director of the company, sold 142,340 shares on September 2, 2023, at an average price of C$0.24. The total value of the transaction amounted to C$34,161.60. Following this sale, Alderson retained 97,856 shares, valued at approximately C$23,485.44, reflecting a 59.26% decrease in her ownership stake.
Over the last quarter, insiders have sold a combined total of 209,683 shares worth C$50,862. Currently, insiders hold 9.08% of the company’s stock.
Company Profile
Greenlane Renewables Inc. specializes in biogas upgrading systems, converting organic waste into clean, renewable natural gas. Their technology facilitates the production of renewable gas from sources such as landfills, wastewater treatment plants, dairy farms, and food waste. This gas can be injected into the natural gas grid or used directly as vehicle fuel.
As Greenlane Renewables navigates the challenges of the market, its efforts in sustainable energy solutions continue to attract attention within the industry.
