Greenlane (NASDAQ:GNLN) Trading Up 3.3% – Should You Buy?

Shares of Greenlane Holdings, Inc. (NASDAQ:GNLN) traded up 3.3% on Wednesday . The company traded as high as $0.30 and last traded at $0.30. 140,508 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 754,136 shares. The stock had previously closed at $0.29.

Greenlane Stock Down 9.5 %

The stock has a fifty day simple moving average of $0.81 and a two-hundred day simple moving average of $2.06.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Greenlane stock. Citadel Advisors LLC bought a new position in Greenlane Holdings, Inc. (NASDAQ:GNLN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,369 shares of the company’s stock, valued at approximately $29,000. Citadel Advisors LLC owned about 1.30% of Greenlane at the end of the most recent quarter. 13.96% of the stock is owned by hedge funds and other institutional investors.

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.