Greenlane Holdings, Inc. (NASDAQ:GNLN – Get Free Report) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totaling 27,684 shares, an increase of 64.1% from the June 30th total of 16,868 shares. Based on an average daily volume of 36,940 shares, the short-interest ratio is currently 0.7 days. Approximately 5.0% of the company’s stock are short sold.
Institutional Inflows and Outflows
An institutional investor recently bought a new stake in Greenlane stock. Yorkville Advisors Global LP purchased a new position in shares of Greenlane Holdings, Inc. (NASDAQ:GNLN – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 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. 13.96% of the stock is currently owned by institutional investors and hedge funds.
Greenlane Stock Up 9.0%
Shares of GNLN opened at $1.93 on Friday. The company has a 50 day moving average of $2.61 and a two-hundred day moving average of $5.02. The company has a market cap of $1.22 million, a price-to-earnings ratio of -0.02 and a beta of 1.87. Greenlane has a twelve month low of $1.51 and a twelve month high of $37.97.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Greenlane in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Greenlane currently has a consensus rating of “Sell”.
View Our Latest Stock Report on Greenlane
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.
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