Greenlane Holdings (NASDAQ:GNLN)’s share price rose 7.5% on Wednesday . The stock traded as high as $5.74 and last traded at $5.60, approximately 359,405 shares changed hands during mid-day trading. An increase of 10% from the average daily volume of 325,972 shares. The stock had previously closed at $5.21.

GNLN has been the subject of a number of analyst reports. Zacks Investment Research cut Greenlane from a “hold” rating to a “sell” rating in a report on Monday. Roth Capital started coverage on Greenlane in a report on Tuesday, May 14th. They issued a “buy” rating and a $22.50 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $22.10.

The business has a fifty day simple moving average of $7.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 4.07.

A number of large investors have recently bought and sold shares of the business. TimesSquare Capital Management LLC purchased a new stake in Greenlane in the second quarter worth about $13,042,000. JPMorgan Chase & Co. purchased a new position in shares of Greenlane during the 2nd quarter valued at about $178,000. Bank of Montreal Can bought a new position in shares of Greenlane during the 2nd quarter valued at approximately $82,000. Charles Schwab Investment Management Inc. bought a new position in shares of Greenlane during the 2nd quarter valued at approximately $124,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Greenlane during the 2nd quarter valued at approximately $103,000. Institutional investors own 8.68% of the company’s stock.

Greenlane Company Profile (NASDAQ:GNLN)

Greenlane Holdings, Inc distribute consumption accessories and vaporization products to wholesale and retail customers in the United States and Canada. The company offers vaporizers and parts, cleaning products, grinders and storage containers, pipes, rolling papers, and customized lines of specialty packaging.

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