Greenlane Holdings, Inc. (NASDAQ:GNLN) Short Interest Update

Greenlane Holdings, Inc. (NASDAQ:GNLN) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totaling 17,135 shares, a drop of 38.1% from the July 15th total of 27,684 shares. Approximately 3.1% of the company’s stock are sold short. Based on an average daily trading volume, of 22,895 shares, the days-to-cover ratio is currently 0.7 days.

Greenlane Trading Down 2.0%

Shares of GNLN stock opened at $2.99 on Thursday. Greenlane has a 1 year low of $1.51 and a 1 year high of $37.97. The firm’s fifty day moving average price is $2.33 and its two-hundred day moving average price is $4.05. The firm has a market capitalization of $1.88 million, a P/E ratio of -0.04 and a beta of 1.88.

Greenlane (NASDAQ:GNLN) last issued its quarterly 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. Greenlane had a negative net margin of 4,630.56% and a negative return on equity of 282.11%. The firm had revenue of ($0.34) million for the quarter, compared to analysts’ expectations of $35.56 million.

Institutional Trading of Greenlane

A hedge fund recently bought a new stake in Greenlane stock. Yorkville Advisors Global LP purchased a new stake in Greenlane Holdings, Inc. (NASDAQ:GNLN) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 200,000 shares of the company’s stock, valued at approximately $74,000. Yorkville Advisors Global LP owned approximately 31.75% of Greenlane as of its most recent SEC filing. Institutional investors and hedge funds own 13.96% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Greenlane in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Greenlane currently has an average rating of “Sell”.

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.