Greenlane Holdings (NASDAQ:GNLN) was up 2.1% during mid-day trading on Thursday . The stock traded as high as $4.54 and last traded at $4.34, approximately 12,496 shares were traded during trading. A decline of 95% from the average daily volume of 236,033 shares. The stock had previously closed at $4.25.
Separately, Zacks Investment Research downgraded Greenlane from a “hold” rating to a “sell” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Greenlane presently has an average rating of “Buy” and an average price target of $22.10.
The company has a quick ratio of 2.67, a current ratio of 4.07 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $6.55.
Several hedge funds and other institutional investors have recently modified their holdings of GNLN. Anson Funds Management LP acquired a new position in shares of Greenlane during the second quarter worth approximately $16,775,000. TimesSquare Capital Management LLC acquired a new position in shares of Greenlane during the second quarter worth approximately $13,042,000. Cowen Inc. bought a new stake in Greenlane during the second quarter worth approximately $3,228,000. BlackRock Inc. bought a new stake in Greenlane during the second quarter worth approximately $2,726,000. Finally, Baker Avenue Asset Management LP bought a new stake in Greenlane during the second quarter worth approximately $2,468,000. Institutional investors and hedge funds own 8.68% of the company’s stock.
Greenlane Company Profile (NASDAQ:GNLN)
Greenlane Holdings, Inc distribute consumption accessories and vaporization products to wholesale and retail customers in the United States and Canada. The company offers vaporizers and parts, cleaning products, grinders and storage containers, pipes, rolling papers, and customized lines of specialty packaging.
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