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

Greenlane Holdings, Inc. (NASDAQ:GNLN) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 27,684 shares, a growth of 64.1% from the June 30th total of 16,868 shares. Currently, 5.0% of the shares of the stock are sold short. Based on an average trading volume of 36,940 shares, the short-interest ratio is currently 0.7 days.

Analyst Ratings Changes

Separately, Weiss Ratings reissued 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.com, Greenlane currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Greenlane

An institutional investor recently bought a new position in Greenlane stock. Yorkville Advisors Global LP acquired a new position in shares of Greenlane Holdings, Inc. (NASDAQ:GNLN) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 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 & Exchange Commission. 13.96% of the stock is currently owned by hedge funds and other institutional investors.

Greenlane Price Performance

GNLN traded up $0.16 on Friday, reaching $1.93. 124,407 shares of the company’s stock were exchanged, compared to its average volume of 101,610. The stock has a market cap of $1.22 million, a PE ratio of -0.02 and a beta of 1.87. Greenlane has a twelve month low of $1.51 and a twelve month high of $37.97. The stock’s fifty day moving average price is $2.63 and its 200-day moving average price is $5.04.

Greenlane (NASDAQ:GNLN) last announced its quarterly earnings data on Friday, May 15th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $35.56 million. Greenlane had a negative net margin of 3,001.59% and a negative return on equity of 234.48%.

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.