Greenlane (NASDAQ:GNLN) Shares Down 4.3% – What’s Next?

Shares of Greenlane Holdings, Inc. (NASDAQ:GNLN) traded down 4.3% during mid-day trading on Tuesday . The company traded as low as $0.51 and last traded at $0.54. 238,191 shares were traded during trading, a decline of 67% from the average session volume of 728,667 shares. The stock had previously closed at $0.56.

Greenlane Stock Up 2.6 %

The firm has a fifty day moving average price of $1.17 and a 200 day moving average price of $2.57.

Institutional Investors Weigh In On Greenlane

An institutional investor recently bought a new position in Greenlane stock. Citadel Advisors LLC purchased a new stake in Greenlane Holdings, Inc. (NASDAQ:GNLN) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 17,369 shares of the company’s stock, valued at approximately $29,000. Citadel Advisors LLC owned approximately 1.30% of Greenlane as of its most recent SEC filing. 13.96% of the stock is owned by institutional investors and hedge funds.

About Greenlane

Greenlane Holdings, Inc develops and distributes cannabis accessories, vape solutions, and lifestyle products in the United States, Canada, and Europe. It operates in two segments, Consumer Goods and Industrial Goods. The company provides consumption accessories, vaporizers, pipes, rolling papers, grinders, and apparel lines, as well as bubblers, rigs, other smoking and vaporization related accessories, and merchandise.