Greenlane Holdings, Inc. (NASDAQ:GNLN – Get Free Report) was the recipient of a large increase in short interest in the month of April. As of April 30th, there was short interest totaling 65,130 shares, an increase of 80.9% from the April 15th total of 36,012 shares. Based on an average daily volume of 488,743 shares, the short-interest ratio is presently 0.1 days. Currently, 11.9% of the company’s shares are short sold.
Institutional Trading of Greenlane
An institutional investor recently bought a new position in Greenlane stock. Yorkville Advisors Global LP bought a new position in shares of Greenlane Holdings, Inc. (NASDAQ:GNLN – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 200,000 shares of the company’s stock, valued at approximately $74,000. Yorkville Advisors Global LP owned about 31.75% of Greenlane at the end of the most recent quarter. Hedge funds and other institutional investors own 13.96% of the company’s stock.
Analysts Set New Price Targets
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Greenlane in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Greenlane presently has a consensus rating of “Sell”.
Greenlane Stock Performance
NASDAQ:GNLN opened at $3.75 on Monday. Greenlane has a one year low of $2.09 and a one year high of $101.40. The firm has a market cap of $2.36 million, a P/E ratio of 0.00 and a beta of 1.96. The firm has a 50-day simple moving average of $4.51 and a 200-day simple moving average of $12.32.
Greenlane (NASDAQ:GNLN – Get Free Report) last posted its quarterly earnings results on Friday, May 15th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1,100,000.00) by $1,099,998.66. Greenlane had a negative net margin of 3,001.59% and a negative return on equity of 265.10%. The business had revenue of $0.45 million during the quarter, compared to analyst estimates of $35.56 million.
Greenlane Company Profile
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.
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