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

Greenlane Holdings, Inc. (NASDAQ:GNLN) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totaling 14,939 shares, a decrease of 77.1% from the April 30th total of 65,130 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average daily trading volume, of 27,380 shares, the short-interest ratio is currently 0.5 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Greenlane in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On Greenlane

A hedge fund recently bought a new stake in Greenlane stock. Yorkville Advisors Global LP acquired a new stake in Greenlane Holdings, Inc. (NASDAQ:GNLN) in the 1st quarter, according to its most recent disclosure with the Securities and 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 at the end of the most recent reporting period. Institutional investors own 13.96% of the company’s stock.

Greenlane Price Performance

Shares of GNLN stock traded up $0.11 during trading hours on Friday, reaching $3.47. 14,781 shares of the company’s stock were exchanged, compared to its average volume of 135,616. The company has a market cap of $2.19 million, a P/E ratio of -0.04 and a beta of 1.96. The company’s 50 day moving average is $3.92 and its two-hundred day moving average is $10.91. Greenlane has a 1 year low of $2.09 and a 1 year high of $101.40.

Greenlane (NASDAQ:GNLN) last issued its earnings results on Friday, May 15th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1,100,000.00) by $1,099,998.66. Greenlane had a negative return on equity of 234.48% and a negative net margin of 3,001.59%.The business had revenue of $0.45 million during the quarter, compared to the consensus estimate of $35.56 million.

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.