Greenlane Renewables (TSE:GRN) Trading Down 21.6% – Here’s Why

Greenlane Renewables Inc. (TSE:GRN) shares were down 21.6% during trading on Friday . The company traded as low as C$0.20 and last traded at C$0.20. Approximately 403,942 shares changed hands during trading, an increase of 267% from the average daily volume of 109,931 shares. The stock had previously closed at C$0.26.

Greenlane Renewables Price Performance

The company has a current ratio of 1.61, a quick ratio of 2.05 and a debt-to-equity ratio of 11.25. The firm has a market capitalization of C$34.31 million, a PE ratio of -21.50, a P/E/G ratio of -555.67 and a beta of 3.89. The company has a fifty day moving average price of C$0.24 and a two-hundred day moving average price of C$0.24.

Greenlane Renewables (TSE:GRN) last posted its earnings results on Thursday, May 14th. The company reported C($0.01) earnings per share for the quarter. Greenlane Renewables had a negative net margin of 2.35% and a negative return on equity of 4.33%. The firm had revenue of C$9.54 million during the quarter. Sell-side analysts forecast that Greenlane Renewables Inc. will post 0.000286 earnings per share for the current year.

Greenlane Renewables Company Profile

Greenlane is driving change: accelerating the energy transition. We are cleaning up two of the largest and most difficult to decarbonize sectors of the global energy system: the natural gas grid and commercial transportation. As a pioneer and leading global specialist in biogas desulfurization and upgrading, we have been actively contributing to the decarbonization of our planet for over 35 years with more than 355 systems supplied into 28 countries. We transform biogas generated from organic waste into high-value grid-ready renewable natural gas (‘RNG’) from a wide range of sources such as landfills, sugar mills, dairy farms, wastewater, and food waste.