Greenlane Holdings, Inc. (NASDAQ:GNLN) Short Interest Up 80.9% in April

Greenlane Holdings, Inc. (NASDAQ:GNLN) was the recipient of a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 65,130 shares, an increase of 80.9% from the April 15th total of 36,012 shares. Based on an average trading volume of 488,743 shares, the days-to-cover ratio is currently 0.1 days. Currently, 11.9% of the shares of the stock are sold short.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Greenlane

A hedge fund recently bought a new stake in Greenlane stock. Yorkville Advisors Global LP bought a new stake in Greenlane Holdings, Inc. (NASDAQ:GNLN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 200,000 shares of the company’s stock, valued at approximately $74,000. Yorkville Advisors Global LP owned 31.75% of Greenlane at the end of the most recent quarter. Institutional investors own 13.96% of the company’s stock.

Greenlane Stock Down 6.9%

GNLN stock opened at $3.36 on Wednesday. Greenlane has a 52 week low of $2.09 and a 52 week high of $101.40. The company has a fifty day simple moving average of $4.40 and a two-hundred day simple moving average of $12.00. The firm has a market capitalization of $2.12 million, a P/E ratio of 0.00 and a beta of 1.96.

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

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.