Short Interest in Greenlane Holdings, Inc. (NASDAQ:GNLN) Drops By 77.1%
by Doug Wharley · The Cerbat GemGreenlane Holdings, Inc. (NASDAQ:GNLN – Get Free Report) was the recipient of a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 14,939 shares, a drop of 77.1% from the April 30th total of 65,130 shares. Currently, 2.7% of the company’s stock are sold short. Based on an average daily trading volume, of 27,380 shares, the short-interest ratio is currently 0.5 days.
Greenlane Stock Performance
NASDAQ GNLN traded up $0.11 during trading on Friday, hitting $3.47. The stock had a trading volume of 14,781 shares, compared to its average volume of 20,673. The company has a market capitalization of $2.19 million, a PE ratio of -0.04 and a beta of 1.89. The company’s 50-day moving average price is $3.90 and its two-hundred day moving average price is $10.76. Greenlane has a 12 month low of $2.09 and a 12 month high of $101.40.
Greenlane (NASDAQ:GNLN – Get Free Report) last released its 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. The firm had revenue of $0.45 million for the quarter, compared to analysts’ expectations of $35.56 million. Greenlane had a negative return on equity of 234.48% and a negative net margin of 3,001.59%.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Greenlane in a research note on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Greenlane currently has an average rating of “Sell”.
View Our Latest Stock Report on Greenlane
Institutional Investors Weigh In On Greenlane
An institutional investor recently bought a new position in Greenlane stock. Yorkville Advisors Global LP purchased a new position in shares of Greenlane Holdings, Inc. (NASDAQ:GNLN – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 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. Institutional investors own 13.96% of the company’s stock.
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.