Short Interest in Greenlane Holdings, Inc. (NASDAQ:GNLN) Rises By 152.1%

Greenlane Holdings, Inc. (NASDAQ:GNLN) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 49,501 shares, a growth of 152.1% from the December 31st total of 19,633 shares. Based on an average daily trading volume, of 48,429 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.6% of the company’s shares are short sold. Currently, 0.6% of the company’s shares are short sold. Based on an average daily trading volume, of 48,429 shares, the days-to-cover ratio is presently 1.0 days.

Greenlane Stock Performance

Shares of NASDAQ GNLN traded up $0.01 during midday trading on Friday, reaching $1.48. The stock had a trading volume of 43,635 shares, compared to its average volume of 217,078. Greenlane has a twelve month low of $1.30 and a twelve month high of $1,200.00. The company’s 50 day moving average price is $2.23 and its 200 day moving average price is $3.07. The firm has a market cap of $11.80 million, a price-to-earnings ratio of -0.01 and a beta of 1.17.

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

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Greenlane in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

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.