Greenlane (NASDAQ:GNLN) Shares Scheduled to Reverse Split on Monday, August 5th

Shares of Greenlane Holdings, Inc. (NASDAQ:GNLN) are going to reverse split on the morning of Monday, August 5th. The 1-11 reverse split was announced on Wednesday, July 31st. The number of shares owned by shareholders will be adjusted after the market closes on Friday, August 2nd.

Greenlane Stock Up 3.7 %

Shares of NASDAQ:GNLN opened at $0.28 on Friday. The firm’s 50-day simple moving average is $4.09 and its 200-day simple moving average is $5.12. The company has a market cap of $1.63 million, a price-to-earnings ratio of -0.01 and a beta of 1.77. Greenlane has a fifty-two week low of $0.21 and a fifty-two week high of $1.03.

Hedge Funds Weigh In On Greenlane

A hedge fund recently bought a new stake in Greenlane stock. Twin Focus Capital Partners LLC acquired a new position in Greenlane Holdings, Inc. (NASDAQ:GNLN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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 as of its most recent SEC filing. Institutional investors own 13.96% of the company’s stock.

Greenlane Company Profile

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.