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

Greenlane Holdings, Inc. (NASDAQ:GNLN) was the recipient of a large drop in short interest in 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. Based on an average daily volume of 27,380 shares, the short-interest ratio is currently 0.5 days. Approximately 2.7% of the shares of the stock are sold short.

Greenlane Price Performance

Greenlane stock traded up $0.11 during mid-day trading on Friday, hitting $3.47. 14,781 shares of the company were exchanged, compared to its average volume of 135,616. The business’s 50 day simple moving average is $3.92 and its two-hundred day simple moving average is $10.91. The company has a market capitalization of $2.19 million, a P/E ratio of -0.04 and a beta of 1.96. Greenlane has a 12-month low of $2.09 and a 12-month high of $101.40.

Greenlane (NASDAQ:GNLN) last released its quarterly earnings results on Friday, May 15th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1,100,000.00) by $1,099,998.66. The company had revenue of $0.45 million during the quarter, compared to the consensus estimate of $35.56 million. Greenlane had a negative return on equity of 234.48% and a negative net margin of 3,001.59%.

Hedge Funds 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) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 filing with the Securities and Exchange Commission (SEC). 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 note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Greenlane has a consensus 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.