Greenlane Holdings, Inc. (NASDAQ:GNLN) Sees Significant Decline in Short Interest

Greenlane Holdings, Inc. (NASDAQ:GNLN) saw a significant decline in short interest in October. As of October 30th, there was short interest totaling 873 shares, a decline of 90.1% from the October 15th total of 8,837 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 14,276 shares, the short-interest ratio is currently 0.1 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 position in Greenlane Holdings, Inc. (NASDAQ:GNLN) in the 1st quarter, according to its most recent Form 13F filing 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 approximately 31.75% of Greenlane at the end of the most recent quarter. 13.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Greenlane in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has a consensus rating of “Sell”.

Greenlane Trading Up 0.4%

Shares of NASDAQ GNLN traded up $0.01 during trading hours on Wednesday, reaching $1.15. The stock had a trading volume of 5,421 shares, compared to its average volume of 79,331. Greenlane has a 52-week low of $1.10 and a 52-week high of $27.92. The business’s fifty day moving average price is $2.34 and its two-hundred day moving average price is $3.79. The firm has a market cap of $790,050.00, a price-to-earnings ratio of -0.02 and a beta of 2.21.

Greenlane (NASDAQ:GNLN) last released its quarterly earnings data on Friday, August 14th. The company reported ($6.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1,100,000.00) by $1,099,993.94. Greenlane had a negative net margin of 4,630.56% and a negative return on equity of 282.11%. The company had revenue of $0.08 million during the quarter, compared to analyst estimates of $35.56 million.

About Greenlane

Greenlane Holdings, Inc. is a cannabis ancillary-products company that has historically operated as a distributor, retailer and developer of branded products for the cannabis and lifestyle markets. The company has focused on products that support the consumption, storage and presentation of cannabis and related goods, rather than cultivating or selling cannabis itself. Greenlane’s product offerings have included vaporizers, glassware, smoking accessories, packaging and other consumer products. Through its wholesale and e-commerce operations, the company has distributed products from third-party brands and developed proprietary brands, including Higher Standards, Groove and Pollen Gear.