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

Greenlane Holdings, Inc. (NASDAQ:GNLN) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 121,247 shares, a growth of 53.3% from the November 30th total of 79,098 shares. Currently, 8.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 127,423 shares, the short-interest ratio is presently 1.0 days. Based on an average daily trading volume, of 127,423 shares, the short-interest ratio is presently 1.0 days. Currently, 8.1% of the shares of the stock are short sold.

Greenlane Stock Up 2.4%

Shares of GNLN traded up $0.05 during midday trading on Monday, reaching $2.16. The company had a trading volume of 16,446 shares, compared to its average volume of 373,333. Greenlane has a 1-year low of $2.05 and a 1-year high of $1,342.50. The firm has a 50 day simple moving average of $3.02 and a 200-day simple moving average of $3.72. The stock has a market cap of $3.24 million, a PE ratio of -0.01 and a beta of 1.14.

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

Wall Street Analyst Weigh In

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