Greenlane Holdings, Inc. (NASDAQ:GNLN) Sees Large Growth in Short Interest

Greenlane Holdings, Inc. (NASDAQ:GNLN) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 573,200 shares, a growth of 1,171.0% from the February 13th total of 45,100 shares. Based on an average daily volume of 168,800 shares, the short-interest ratio is currently 3.4 days. Approximately 6.9% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Greenlane stock. Citadel Advisors LLC purchased a new stake in shares of Greenlane Holdings, Inc. (NASDAQ:GNLN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 17,369 shares of the company’s stock, valued at approximately $29,000. Citadel Advisors LLC owned about 1.30% of Greenlane as of its most recent SEC filing. 13.96% of the stock is currently owned by institutional investors.

Greenlane Price Performance

NASDAQ GNLN traded down $0.05 during trading on Wednesday, hitting $0.50. 148,773 shares of the company traded hands, compared to its average volume of 190,838. Greenlane has a 12 month low of $0.49 and a 12 month high of $21.80. The business has a fifty day simple moving average of $1.22 and a 200 day simple moving average of $2.59.

About Greenlane

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.