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

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

Hedge Funds Weigh In On 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 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 and hedge funds.

Greenlane Trading Up 52.6%

Greenlane stock traded up $1.06 during midday trading on Tuesday, reaching $3.07. The stock had a trading volume of 596,657 shares, compared to its average volume of 98,177. Greenlane has a 12 month low of $1.51 and a 12 month high of $37.97. The company has a market capitalization of $1.94 million, a P/E ratio of -0.04 and a beta of 1.88. The company has a fifty day moving average price of $2.33 and a two-hundred day moving average price of $4.17.

Greenlane (NASDAQ:GNLN) last posted its quarterly earnings results on Friday, August 14th. The company reported ($6.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1,815,000.00) by $1,814,993.94. The business had revenue of ($0.34) million for the quarter, compared to the consensus estimate of $35.54 million. Greenlane had a negative return on equity of 253.43% and a negative net margin of 4,630.56%.

Wall Street Analysts Forecast Growth

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, Based on data from MarketBeat, the stock presently 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.