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

Greenlane Holdings, Inc. (NASDAQ:GNLN) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 14,939 shares, a drop of 77.1% from the April 30th total of 65,130 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average daily trading volume, of 27,380 shares, the short-interest ratio is currently 0.5 days.

Institutional Trading of Greenlane

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

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Greenlane in a research note on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Greenlane presently has an average rating of “Sell”.

Greenlane Stock Up 3.3%

Shares of Greenlane stock traded up $0.11 during trading on Friday, reaching $3.47. 14,781 shares of the company were exchanged, compared to its average volume of 21,896. Greenlane has a twelve month low of $2.09 and a twelve month high of $101.40. The business has a 50-day moving average price of $3.90 and a 200-day moving average price of $10.86.

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

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.