Greenlane Holdings, Inc. (NASDAQ:GNLN) Short Interest Up 80.9% in April

Greenlane Holdings, Inc. (NASDAQ:GNLN) was the target of a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 65,130 shares, an increase of 80.9% from the April 15th total of 36,012 shares. Currently, 11.9% of the company’s stock are short sold. Based on an average daily volume of 488,743 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Greenlane in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Greenlane Price Performance

Shares of GNLN stock opened at $3.75 on Monday. The company has a market capitalization of $2.36 million, a price-to-earnings ratio of 0.00 and a beta of 1.96. Greenlane has a one year low of $2.09 and a one year high of $101.40. The company’s fifty day moving average price is $4.51 and its 200-day moving average price is $12.32.

Greenlane (NASDAQ:GNLN) last announced its quarterly earnings data 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 the consensus estimate of $35.56 million. Greenlane had a negative net margin of 3,001.59% and a negative return on equity of 265.10%.

Hedge Funds Weigh In On Greenlane

A hedge fund recently bought a new stake in Greenlane stock. Yorkville Advisors Global LP purchased a new position in shares of Greenlane Holdings, Inc. (NASDAQ:GNLN) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 200,000 shares of the company’s stock, valued at approximately $74,000. Yorkville Advisors Global LP owned 31.75% of Greenlane at the end of the most recent quarter. 13.96% of the stock is currently owned by institutional investors.

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.