Greenlane Holdings, Inc. (NASDAQ:GNLN) Short Interest Update

Posted by on May 28th, 2022

Greenlane Holdings, Inc. (NASDAQ:GNLN – Get Rating) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 3,260,000 shares, a drop of 36.8% from the April 30th total of 5,160,000 shares. Based on an average daily trading volume, of 2,060,000 shares, the days-to-cover ratio is presently 1.6 days.

Greenlane stock opened at $0.29 on Friday. Greenlane has a twelve month low of $0.28 and a twelve month high of $5.49. The stock has a 50 day moving average of $0.42 and a two-hundred day moving average of $0.74. The company has a current ratio of 1.54, a quick ratio of 0.81 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $34.84 million, a price-to-earnings ratio of -0.35 and a beta of 2.34.

Greenlane (NASDAQ:GNLN – Get Rating) last posted its quarterly earnings data on Wednesday, March 30th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. The company had revenue of $56.02 million during the quarter, compared to analysts’ expectations of $56.10 million. Greenlane had a negative return on equity of 23.05% and a negative net margin of 23.33%. During the same period last year, the firm earned ($0.61) EPS. Equities analysts predict that Greenlane will post -0.17 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of GNLN. Marathon Capital Management acquired a new stake in shares of Greenlane in the 3rd quarter valued at approximately $27,000. FNY Investment Advisers LLC lifted its holdings in shares of Greenlane by 60.5% in the 4th quarter. FNY Investment Advisers LLC now owns 31,883 shares of the company’s stock valued at $30,000 after buying an additional 12,020 shares during the period. Qube Research & Technologies Ltd acquired a new stake in shares of Greenlane in the 1st quarter valued at approximately $30,000. Barclays PLC lifted its holdings in shares of Greenlane by 150.5% in the 3rd quarter. Barclays PLC now owns 14,992 shares of the company’s stock valued at $36,000 after buying an additional 9,008 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Greenlane by 137.8% in the 2nd quarter. Wells Fargo & Company MN now owns 8,081 shares of the company’s stock valued at $36,000 after buying an additional 4,683 shares during the period. 14.51% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on GNLN shares. Alliance Global Partners dropped their price target on Greenlane from $3.00 to $2.00 in a research note on Thursday, March 31st. Canaccord Genuity Group dropped their price target on Greenlane from $2.00 to $1.00 and set a “buy” rating on the stock in a research note on Friday, April 1st. Canaccord Genuity Group dropped their price target on Greenlane from $5.00 to $2.00 and set a “speculative buy” rating on the stock in a research note on Friday, March 11th. Cowen dropped their price target on Greenlane from $5.00 to $2.00 in a research note on Friday, April 1st. Finally, Zacks Investment Research downgraded Greenlane from a “buy” rating to a “hold” rating in a research note on Friday, May 6th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Greenlane has a consensus rating of “Buy” and a consensus target price of $2.83.

Greenlane Company Profile (Get Rating)

Greenlane Holdings, Inc develops and distributes cannabis accessories, child-resistant packaging, vape solutions, and lifestyle products in the United States, Canada, and Europe. It operates through two segments, Consumer Goods and Industrial Goods. The company provides consumption accessories, vaporizers, pipes, rolling papers and packaging, grinders, and apparel lines, as well as bubblers, rigs, and other smoking and vaporization related accessories and merchandise.

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