Greenlane (NASDAQ:GNLN) Trading Down 4.7%

Greenlane Holdings, Inc. (NASDAQ:GNLN) fell 4.7% during trading on Tuesday . The stock traded as low as $5.28 and last traded at $5.63. 509,926 shares were traded during mid-day trading, a decline of 8% from the average session volume of 553,163 shares. The stock had previously closed at $5.91.

Greenlane Stock Down 4.7 %

The company has a market capitalization of $21.02 million, a price-to-earnings ratio of -0.22 and a beta of 1.81. The stock’s 50-day simple moving average is $4.13 and its two-hundred day simple moving average is $1.78.

Greenlane (NASDAQ:GNLN) last released its earnings results on Wednesday, August 14th. The company reported ($1.33) EPS for the quarter. The company had revenue of $2.65 million for the quarter. Greenlane had a negative return on equity of 202.12% and a negative net margin of 66.59%.

Institutional Investors Weigh In On Greenlane

A hedge fund recently bought a new stake in Greenlane stock. Twin Focus Capital Partners LLC acquired a new stake in shares of Greenlane Holdings, Inc. (NASDAQ:GNLN) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 71,250 shares of the company’s stock, valued at approximately $37,000. Twin Focus Capital Partners LLC owned approximately 1.91% of Greenlane at the end of the most recent quarter. 13.96% of the stock is currently owned by institutional investors and hedge funds.

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.