Greenlane Holdings, Inc. (NASDAQ:GNLN) Short Interest Update

Greenlane Holdings, Inc. (NASDAQ:GNLN) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 27,684 shares, an increase of 64.1% from the June 30th total of 16,868 shares. Based on an average trading volume of 36,940 shares, the days-to-cover ratio is currently 0.7 days. Approximately 5.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

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

Greenlane Stock Performance

Shares of NASDAQ:GNLN traded up $0.16 during midday trading on Friday, reaching $1.93. 124,407 shares of the company’s stock traded hands, compared to its average volume of 101,610. The company has a fifty day simple moving average of $2.63 and a two-hundred day simple moving average of $5.04. Greenlane has a 1 year low of $1.51 and a 1 year high of $37.97. The company has a market cap of $1.22 million, a P/E ratio of -0.02 and a beta of 1.87.

Greenlane (NASDAQ:GNLN) last issued its quarterly earnings results on Friday, May 15th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1,100,000.00) by $1,099,998.66. The company had revenue of $0.45 million during the quarter, compared to analyst estimates of $35.56 million. Greenlane had a negative net margin of 3,001.59% and a negative return on equity of 234.48%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Greenlane stock. Yorkville Advisors Global LP acquired a new position in Greenlane Holdings, Inc. (NASDAQ:GNLN) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 200,000 shares of the company’s stock, valued at approximately $74,000. Yorkville Advisors Global LP owned about 31.75% of Greenlane at the end of the most recent quarter. Hedge funds and other institutional investors own 13.96% of the company’s stock.

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.