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

Greenlane Holdings, Inc. (NASDAQ:GNLN) saw a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 34,951 shares, a drop of 29.4% from the January 15th total of 49,501 shares. Based on an average trading volume of 366,856 shares, the short-interest ratio is currently 0.1 days. Currently, 0.4% of the shares of the company are short sold. Currently, 0.4% of the shares of the company are short sold. Based on an average trading volume of 366,856 shares, the short-interest ratio is currently 0.1 days.

Greenlane Stock Performance

Shares of NASDAQ:GNLN traded down $0.01 during mid-day trading on Friday, reaching $0.87. 398,990 shares of the company’s stock were exchanged, compared to its average volume of 1,381,742. The business’s fifty day moving average price is $1.80 and its 200-day moving average price is $2.87. Greenlane has a twelve month low of $0.72 and a twelve month high of $900.00. The firm has a market capitalization of $6.93 million, a price-to-earnings ratio of 0.00 and a beta of 1.23.

Greenlane (NASDAQ:GNLN) last issued its quarterly earnings results on Friday, November 14th. The company reported ($6.44) EPS for the quarter. The firm had revenue of $0.74 million for the quarter. Greenlane had a negative net margin of 532.82% and a negative return on equity of 164.19%.

Wall Street Analyst Weigh In

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