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

Greenlane Holdings, Inc. (NASDAQ:GNLN) was the recipient of a large decline in short interest in October. As of October 30th, there was short interest totaling 873 shares, a decline of 90.1% from the October 15th total of 8,837 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 14,276 shares, the short-interest ratio is currently 0.1 days.

Greenlane Stock Performance

Shares of NASDAQ GNLN traded down $0.04 during midday trading on Friday, reaching $0.93. 24,473 shares of the company’s stock were exchanged, compared to its average volume of 78,995. Greenlane has a 52-week low of $0.81 and a 52-week high of $27.92. The stock has a market capitalization of $638,250.00, a PE ratio of -0.02 and a beta of 2.21. The business’s fifty day moving average price is $2.26 and its two-hundred day moving average price is $3.67.

Greenlane (NASDAQ:GNLN) last released its quarterly earnings results on Friday, August 14th. The company reported ($6.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1,100,000.00) by $1,099,993.94. Greenlane had a negative net margin of 4,630.56% and a negative return on equity of 282.11%. The business had revenue of $0.08 million during the quarter, compared to the consensus estimate of $35.56 million.

Institutional Investors Weigh In On Greenlane

An institutional investor recently bought a new position in Greenlane stock. Yorkville Advisors Global LP acquired a new stake in Greenlane Holdings, Inc. (NASDAQ:GNLN) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period. Hedge funds and other institutional investors own 13.96% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Greenlane in a research report on Thursday, October 15th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock has an average rating of “Sell”.

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.