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

Greenlane Holdings, Inc. (NASDAQ:GNLN) was the recipient of a significant increase in short interest in February. As of February 13th, there was short interest totaling 783,345 shares, an increase of 2,141.3% from the January 29th total of 34,951 shares. Based on an average daily trading volume, of 2,356,866 shares, the days-to-cover ratio is currently 0.3 days. Approximately 9.8% of the company’s stock are sold short. Approximately 9.8% of the company’s stock are sold short. Based on an average daily trading volume, of 2,356,866 shares, the days-to-cover ratio is currently 0.3 days.

Greenlane Price Performance

Shares of GNLN traded down $0.01 during mid-day trading on Wednesday, hitting $0.65. 57,318 shares of the company’s stock were exchanged, compared to its average volume of 806,662. Greenlane has a 52 week low of $0.60 and a 52 week high of $554.25. The company has a market cap of $5.15 million, a PE ratio of 0.00 and a beta of 1.23. The company has a 50-day simple moving average of $1.49 and a 200 day simple moving average of $2.72.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Greenlane in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Greenlane has a consensus rating of “Sell”.

Greenlane Company Profile

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.