Greenlane (NASDAQ:GNLN) Trading Down 11%

Shares of Greenlane Holdings, Inc. (NASDAQ:GNLN) fell 11% on Monday . The stock traded as low as $0.50 and last traded at $0.52. 438,549 shares changed hands during mid-day trading, an increase of 456% from the average session volume of 78,854 shares. The stock had previously closed at $0.58.

Greenlane Price Performance

The firm has a fifty day moving average of $0.47 and a two-hundred day moving average of $0.54. The stock has a market capitalization of $1.95 million, a P/E ratio of -0.02 and a beta of 1.88.

Greenlane (NASDAQ:GNLN) last released its quarterly earnings data on Tuesday, January 9th. The company reported ($1.91) earnings per share for the quarter. The firm had revenue of $11.80 million during the quarter. Greenlane had a negative net margin of 57.00% and a negative return on equity of 80.94%.

Hedge Funds Weigh In On Greenlane

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in Greenlane in the fourth quarter worth about $25,000. Virtu Financial LLC bought a new position in Greenlane in the fourth quarter worth about $26,000. Twin Focus Capital Partners LLC bought a new position in Greenlane in the fourth quarter worth about $37,000. AQR Capital Management LLC bought a new position in Greenlane in the second quarter worth about $39,000. Finally, Vident Investment Advisory LLC grew its stake in shares of Greenlane by 76.6% during the first quarter. Vident Investment Advisory LLC now owns 163,945 shares of the company’s stock worth $92,000 after acquiring an additional 71,105 shares during the last quarter. 13.96% of the stock is currently owned by institutional investors.

About Greenlane

Greenlane Holdings, Inc develops and distributes cannabis accessories, vape solutions, and lifestyle products in the United States, Canada, and Europe. It operates in two segments, Consumer Goods and Industrial Goods. The company provides consumption accessories, vaporizers, pipes, rolling papers, grinders, and apparel lines, as well as bubblers, rigs, other smoking and vaporization related accessories, and merchandise.