Greenlane Holdings (NASDAQ:GNLN) Short Interest Update

Greenlane Holdings (NASDAQ:GNLN) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 1,740,000 shares, an increase of 5.5% from the September 30th total of 1,650,000 shares. Approximately 18.8% of the company’s stock are sold short. Based on an average daily volume of 246,900 shares, the short-interest ratio is presently 7.0 days.

A number of analysts have commented on GNLN shares. Roth Capital reduced their target price on Greenlane from $18.50 to $10.00 and set a “buy” rating for the company in a report on Monday, October 7th. Zacks Investment Research lowered Greenlane from a “hold” rating to a “sell” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $19.60.

Shares of GNLN traded down $0.04 during trading hours on Friday, hitting $3.36. The stock had a trading volume of 84,100 shares, compared to its average volume of 212,915. The stock has a fifty day moving average price of $3.60 and a 200 day moving average price of $8.47. Greenlane has a 12 month low of $3.10 and a 12 month high of $29.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 5.50.

Greenlane (NASDAQ:GNLN) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.64) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.58). Greenlane had a negative net margin of 17.11% and a negative return on equity of 66.55%. The business had revenue of $44.89 million during the quarter, compared to analysts’ expectations of $48.65 million. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Greenlane will post -0.53 EPS for the current year.

In other Greenlane news, SVP Pura Vida Investments, Llc bought 5,000 shares of Greenlane stock in a transaction on Friday, September 20th. The stock was acquired at an average price of $22.00 per share, with a total value of $110,000.00. Also, Director Richard Taney bought 30,000 shares of Greenlane stock in a transaction on Friday, September 27th. The stock was acquired at an average cost of $3.65 per share, with a total value of $109,500.00. In the last three months, insiders acquired 120,000 shares of company stock valued at $572,150.

Several hedge funds have recently modified their holdings of GNLN. Anson Funds Management LP bought a new stake in shares of Greenlane in the second quarter worth about $16,775,000. TimesSquare Capital Management LLC bought a new stake in shares of Greenlane in the second quarter worth about $13,042,000. Cowen Inc. bought a new stake in shares of Greenlane in the second quarter worth about $3,228,000. BlackRock Inc. bought a new stake in shares of Greenlane in the second quarter worth about $2,726,000. Finally, Baker Avenue Asset Management LP bought a new stake in shares of Greenlane in the second quarter worth about $2,468,000. 8.89% of the stock is currently owned by hedge funds and other institutional investors.

About Greenlane

Greenlane Holdings, Inc distribute consumption accessories and vaporization products to wholesale and retail customers in the United States and Canada. The company offers vaporizers and parts, cleaning products, grinders and storage containers, pipes, rolling papers, and customized lines of specialty packaging.

Further Reading: What are the components of an earnings report?

Receive News & Ratings for Greenlane Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Greenlane and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit