Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Greenlane Holdings Inc. shares valued at $11,009 were sold by Schoenfeld Adam on May 13. At $0.33 per share, Schoenfeld Adam sold 33,000 shares. The insider’s holdings dropped to 36,244 shares worth approximately $6523.92 following the completion of this transaction.
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Also, Schoenfeld Adam sold 33,000 shares, netting a total of over 11,718 in proceeds. Following the sale of shares at $0.36 each, the insider now holds 69,244 shares.
Before that, Schoenfeld Adam had sold 33,000 shares from its account. In a trade valued at $11,540, the Director traded Greenlane Holdings Inc. shares for $0.35 each. Upon closing the transaction, the insider’s holdings decreased to 33,000 shares, worth approximately $18403.92.
As published in their initiating research note from Jefferies on October 01, 2021, Greenlane Holdings Inc. [GNLN] has been a Buy and the price target has been revised to $6.30. This represents a 97.14% premium over Thursday’s closing price. As of September 07, 2021, Alliance Global Partners has initiated its “Buy” rating for GNLN.
Analyzing GNLN’s Price Performance
On Thursday, Greenlane Holdings Inc. [NASDAQ: GNLN] rose 8.03% to $0.18. The stock’s lowest price that day was $0.1602, but it reached a high of $0.1847 in the same session. During the last five days, there has been a surge of approximately 15.61%. Over the course of the year, Greenlane Holdings Inc. shares have dropped approximately -80.87%. Shares of the company reached a 52-week high of $1.0500 on 01/04/22 and a 52-week low of $0.1440 on 07/28/22. A 50-day SMA is recorded $0.2246, while a 200-day SMA reached $0.7047. Nevertheless, trading volume fell to 3.7 million shares from 3.87 million shares the previous day.
Support And Resistance Levels for Greenlane Holdings Inc. (GNLN)
According to the 24-hour chart, there is a support level at 0.1682, which, if violated, would cause prices to drop to 0.1519. In the upper region, resistance lies at 0.1927. The next price resistance is at 0.2009. RSI (Relative Strength Index) is 46.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0025, which suggests the price will decrease in the coming days. Percent R is at 61.56%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Greenlane Holdings Inc. subject to short interest?
Stocks of Greenlane Holdings Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.36 million shares to 4.06 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.7 million shares. A jump of 8.87% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.21 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.21.
Which companies own the most shares of Greenlane Holdings Inc. (GNLN)?
According to Merlin Capital LLC filings, the company currently owns 3,099,396 shares, which is about 2.86% of the total GNLN shares outstanding. The investor’s shares have appreciated by 833,462 from its previous 13-F filing of 2265934.0 shares. With the completion of the sale transaction, Adage Capital Management LP’s stake is now worth $497,179. The Vanguard Group, Inc. reduced a -10.00% interest valued at $0.43 million while Twin Focus Capital Partners LLC sold a -120,000 stake. A total of 214,480 shares of Greenlane Holdings Inc. were sold by BlackRock Fund Advisors during the quarter, and -45,121 were sold by Penserra Capital Management LLC. In its current portfolio, GSA Capital Partners LLP holds 710,502 shares valued at $0.14 million.
In terms of Greenlane Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $2.25 in the next 12 months, up nearly 1076.47% from the previous closing price of $0.17. Analysts anticipate Greenlane Holdings Inc. stock to reach $5.00 by 2022, with the lowest price target being $1.00. In spite of this, 6 analysts ranked Greenlane Holdings Inc. stock as a Buy at the end of 2022.