Greenlane Holdings, Inc. (NASDAQ:GNLN) Sees Large Decline in Short Interest

Greenlane Holdings, Inc. (NASDAQ:GNLN) saw a significant drop in short interest in March. As of March 31st, there was short interest totaling 45,837 shares, a drop of 74.5% from the March 15th total of 179,453 shares. Currently, 5.3% of the company’s stock are sold short. Based on an average trading volume of 497,412 shares, the short-interest ratio is presently 0.1 days.

Greenlane Trading Up 1.7%

NASDAQ:GNLN traded up $0.05 during mid-day trading on Friday, reaching $2.93. The company’s stock had a trading volume of 154,256 shares, compared to its average volume of 198,143. Greenlane has a 12-month low of $2.09 and a 12-month high of $1,728.00. The firm’s fifty day moving average price is $5.73 and its two-hundred day moving average price is $16.48. The stock has a market cap of $1.85 million, a P/E ratio of -0.01 and a beta of 1.32.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Greenlane in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Greenlane currently has an average rating of “Sell”.

About Greenlane

Greenlane Holdings, Inc is a leading global distributor and direct-to-consumer retailer of premium cannabis consumption accessories and lifestyle products. The company’s portfolio spans hardware such as vaporizers, glassware, rolling papers, storage solutions, and concentrate tools, alongside branded and proprietary offerings designed to meet the evolving needs of both consumers and retail partners in the cannabis and hemp sectors.

Through a multi-channel platform, Greenlane serves a diverse customer base that includes smoke shops, dispensaries, specialty retailers and e-commerce operators.