Short Interest in Greenlane Holdings, Inc. (NASDAQ:GNLN) Decreases By 38.1%

Greenlane Holdings, Inc. (NASDAQ:GNLN) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 17,135 shares, a decrease of 38.1% from the July 15th total of 27,684 shares. Based on an average trading volume of 22,895 shares, the short-interest ratio is currently 0.7 days. Currently, 3.1% of the company’s shares are sold short.

Institutional Investors Weigh In On Greenlane

An institutional investor recently bought a new stake in Greenlane stock. Yorkville Advisors Global LP purchased a new stake in shares of Greenlane Holdings, Inc. (NASDAQ:GNLN) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 200,000 shares of the company’s stock, valued at approximately $74,000. Yorkville Advisors Global LP owned 31.75% of Greenlane as of its most recent filing with the Securities & Exchange Commission. 13.96% of the stock is currently owned by institutional investors.

Greenlane Price Performance

Shares of GNLN stock traded down $0.06 during trading hours on Wednesday, reaching $3.00. The company had a trading volume of 123,584 shares, compared to its average volume of 99,444. Greenlane has a 12 month low of $1.51 and a 12 month high of $37.97. The company has a market cap of $1.89 million, a price-to-earnings ratio of -0.04 and a beta of 1.88. The business has a fifty day simple moving average of $2.33 and a 200-day simple moving average of $4.11.

Greenlane (NASDAQ:GNLN) last released its quarterly earnings results on Friday, August 14th. The company reported ($6.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($1,100,000.00) by $1,099,993.94. Greenlane had a negative net margin of 4,630.56% and a negative return on equity of 253.43%. The company had revenue of ($0.34) million for the quarter, compared to analyst estimates of $35.56 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Greenlane in a research report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

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.