Greenlane Holdings, Inc. (NASDAQ:GNLN – Get Free Report) saw a large decrease in short interest in October. As of October 30th, there was short interest totaling 873 shares, a decrease of 90.1% from the October 15th total of 8,837 shares. Based on an average daily trading volume, of 14,276 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the company’s stock are sold short.
Greenlane Trading Up 0.4%
Shares of NASDAQ GNLN traded up $0.01 during trading on Wednesday, reaching $1.15. 5,421 shares of the company traded hands, compared to its average volume of 79,331. The stock has a market cap of $790,050.00, a P/E ratio of -0.02 and a beta of 2.21. The firm’s fifty day simple moving average is $2.34 and its 200 day simple moving average is $3.79. Greenlane has a 12-month low of $1.10 and a 12-month high of $27.92.
Greenlane (NASDAQ:GNLN – Get Free Report) last posted its earnings results on Friday, August 14th. The company reported ($6.06) EPS for the quarter, topping the consensus estimate of ($1,100,000.00) by $1,099,993.94. The firm had revenue of $0.08 million for the quarter, compared to analyst estimates of $35.56 million. Greenlane had a negative return on equity of 282.11% and a negative net margin of 4,630.56%.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Greenlane in a research note on Thursday, October 15th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.
Check Out Our Latest Stock Report on GNLN
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Greenlane stock. Yorkville Advisors Global LP acquired a new position in Greenlane Holdings, Inc. (NASDAQ:GNLN – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 200,000 shares of the company’s stock, valued at approximately $74,000. Yorkville Advisors Global LP owned approximately 31.75% of Greenlane at the end of the most recent quarter. 13.96% of the stock is owned by institutional investors and hedge funds.
Greenlane Company Profile
Greenlane Holdings, Inc. is a cannabis ancillary-products company that has historically operated as a distributor, retailer and developer of branded products for the cannabis and lifestyle markets. The company has focused on products that support the consumption, storage and presentation of cannabis and related goods, rather than cultivating or selling cannabis itself. Greenlane’s product offerings have included vaporizers, glassware, smoking accessories, packaging and other consumer products. Through its wholesale and e-commerce operations, the company has distributed products from third-party brands and developed proprietary brands, including Higher Standards, Groove and Pollen Gear.
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