Greenlane Renewables (TSE:GRN) Trading Down 16.4% – Here’s Why

Greenlane Renewables Inc. (TSE:GRN)’s share price traded down 16.4% during trading on Friday . The company traded as low as C$0.23 and last traded at C$0.23. 170,069 shares were traded during mid-day trading, an increase of 48% from the average session volume of 115,255 shares. The stock had previously closed at C$0.28.

Greenlane Renewables Trading Down 14.5%

The company has a 50 day moving average price of C$0.23 and a two-hundred day moving average price of C$0.25. The company has a debt-to-equity ratio of 11.25, a quick ratio of 2.05 and a current ratio of 1.61. The firm has a market capitalization of C$37.13 million, a price-to-earnings ratio of 23.50, a P/E/G ratio of -555.67 and a beta of 4.40.

Greenlane Renewables (TSE:GRN) last announced its earnings results on Thursday, March 12th. The company reported C($0.01) earnings per share for the quarter. The company had revenue of C$10.80 million during the quarter. Greenlane Renewables had a negative net margin of 2.35% and a negative return on equity of 4.33%. On average, research analysts forecast that Greenlane Renewables Inc. will post 0.000286 EPS for the current year.

About Greenlane Renewables

Greenlane is driving change: accelerating the energy transition. We are cleaning up two of the largest and most difficult to decarbonize sectors of the global energy system: the natural gas grid and commercial transportation. As a pioneer and leading global specialist in biogas desulfurization and upgrading, we have been actively contributing to the decarbonization of our planet for over 35 years with more than 355 systems supplied into 28 countries. We transform biogas generated from organic waste into high-value grid-ready renewable natural gas (‘RNG’) from a wide range of sources such as landfills, sugar mills, dairy farms, wastewater, and food waste.