Greenlane (NASDAQ:GNLN) Trading Up 1.3% – What’s Next?

Greenlane Holdings, Inc. (NASDAQ:GNLN) shares shot up 1.3% during trading on Monday . The stock traded as high as $4.15 and last traded at $4.04. 91,671 shares were traded during trading, a decline of 32% from the average session volume of 135,778 shares. The stock had previously closed at $3.99.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GNLN. Weiss Ratings reissued a “sell (e+)” rating on shares of Greenlane in a research note on Saturday, September 27th. Wall Street Zen raised shares of Greenlane to a “sell” rating in a research note on Saturday, June 28th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Greenlane has a consensus rating of “Sell”.

Greenlane Stock Up 1.3%

The company’s fifty day moving average is $3.52 and its two-hundred day moving average is $38.92.

Greenlane (NASDAQ:GNLN) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($3.18) earnings per share for the quarter. Greenlane had a negative net margin of 246.62% and a negative return on equity of 133.66%. The business had revenue of $0.79 million during the quarter.

Hedge Funds Weigh In On Greenlane

A hedge fund recently bought a new stake in Greenlane stock. Citadel Advisors LLC purchased a new position in shares of Greenlane Holdings, Inc. (NASDAQ:GNLN) during the fourth quarter, according to its most recent Form 13F 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 approximately 1.30% of Greenlane as of its most recent SEC filing. 13.96% of the stock is currently owned by hedge funds and other institutional investors.

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.