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

Greenlane Holdings, Inc. (NASDAQ:GNLN) was the target of a large decline in short interest in December. As of December 31st, there was short interest totaling 19,633 shares, a decline of 83.8% from the December 15th total of 121,247 shares. Based on an average daily trading volume, of 96,111 shares, the short-interest ratio is presently 0.2 days. Approximately 1.3% of the shares of the stock are short sold. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 96,111 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Greenlane in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Greenlane currently has a consensus rating of “Sell”.

Greenlane Stock Performance

Shares of GNLN stock traded down $0.05 during mid-day trading on Tuesday, reaching $1.52. 25,045 shares of the company’s stock traded hands, compared to its average volume of 43,672. The firm has a 50 day moving average price of $2.66 and a two-hundred day moving average price of $3.27. The firm has a market capitalization of $2.28 million, a PE ratio of -0.01 and a beta of 1.17. Greenlane has a 12 month low of $1.46 and a 12 month high of $1,230.00.

Greenlane (NASDAQ:GNLN) last posted its quarterly earnings data on Friday, November 14th. The company reported ($6.44) EPS for the quarter. Greenlane had a negative return on equity of 164.19% and a negative net margin of 532.82%.The company had revenue of $0.74 million during the quarter.

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.