Short Interest in Greenlane Holdings, Inc. (NASDAQ:GNLN) Grows By 557.0%

Greenlane Holdings, Inc. (NASDAQ:GNLN) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 70,300 shares, a growth of 557.0% from the March 31st total of 10,700 shares. Based on an average trading volume of 333,000 shares, the short-interest ratio is currently 0.2 days. Approximately 1.9% of the company’s stock are short sold.

Institutional Investors Weigh In On Greenlane

An institutional investor recently raised its position in Greenlane stock. Armistice Capital LLC boosted its position in shares of Greenlane Holdings, Inc. (NASDAQ:GNLN) by 815.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 329,000 shares of the company’s stock after buying an additional 293,048 shares during the period. Armistice Capital LLC owned 12.37% of Greenlane worth $234,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 13.96% of the company’s stock.

Greenlane Price Performance

Shares of NASDAQ GNLN traded down $0.03 during midday trading on Thursday, hitting $0.52. 411,920 shares of the company’s stock were exchanged, compared to its average volume of 283,133. Greenlane has a twelve month low of $0.37 and a twelve month high of $3.65. The company has a market cap of $1.95 million, a PE ratio of -0.02 and a beta of 1.90. The firm’s fifty day simple moving average is $0.51 and its 200-day simple moving average is $0.52.

Greenlane Company Profile

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