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

Greenlane Holdings, Inc. (NASDAQ:GNLN) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 121,247 shares, an increase of 53.3% from the November 30th total of 79,098 shares. Approximately 8.1% of the company’s shares are sold short. Based on an average daily trading volume, of 127,423 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily trading volume, of 127,423 shares, the days-to-cover ratio is currently 1.0 days. Approximately 8.1% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Greenlane in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Greenlane Trading Down 10.7%

NASDAQ GNLN opened at $1.84 on Wednesday. The firm has a market capitalization of $2.76 million, a PE ratio of -0.01 and a beta of 1.14. The business’s 50-day moving average price is $2.96 and its two-hundred day moving average price is $3.61. Greenlane has a 12 month low of $1.79 and a 12 month high of $1,342.50.

Greenlane (NASDAQ:GNLN) last posted its quarterly earnings data on Friday, November 14th. The company reported ($6.44) EPS for the quarter. Greenlane had a negative return on equity of 164.19% and a negative net margin of 532.82%.The company had revenue of $0.74 million during the quarter.

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.