Short Interest in Greenlane Holdings, Inc. (NASDAQ:GNLN) Decreases By 93.2%

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 totalling 9,000 shares, a decrease of 93.2% from the July 15th total of 132,500 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily volume of 52,000 shares, the days-to-cover ratio is presently 0.2 days.

Greenlane Price Performance

Shares of NASDAQ GNLN traded up $6.79 during midday trading on Wednesday, hitting $16.80. The stock had a trading volume of 18,264,160 shares, compared to its average volume of 505,078. The firm has a market cap of $62.73 million, a P/E ratio of -0.67 and a beta of 1.77. Greenlane has a fifty-two week low of $2.05 and a fifty-two week high of $21.80. The company’s 50-day simple moving average is $4.21 and its 200 day simple moving average is $5.20.

Greenlane (NASDAQ:GNLN) last posted its quarterly earnings results on Wednesday, July 24th. The company reported ($9.35) earnings per share (EPS) for the quarter. The firm had revenue of $4.93 million during the quarter. Greenlane had a negative net margin of 63.60% and a negative return on equity of 216.53%.

Institutional Investors Weigh In On Greenlane

An institutional investor recently bought a new position in Greenlane stock. Twin Focus Capital Partners LLC acquired a new stake in shares of Greenlane Holdings, Inc. (NASDAQ:GNLN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 71,250 shares of the company’s stock, valued at approximately $37,000. Twin Focus Capital Partners LLC owned 1.91% of Greenlane as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 13.96% of the company’s stock.

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.