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

Greenlane Holdings, Inc. (NASDAQ:GNLN)’s share price shot up 3.3% during mid-day trading on Wednesday . The company traded as high as $0.30 and last traded at $0.30. 140,508 shares were traded 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 Performance

The company has a 50 day simple moving average of $0.84 and a 200 day simple moving average of $2.08.

Hedge Funds Weigh In On Greenlane

An institutional investor recently bought a new position in Greenlane stock. Citadel Advisors LLC purchased a new stake in Greenlane Holdings, Inc. (NASDAQ:GNLN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 17,369 shares of the company’s stock, valued at approximately $29,000. Citadel Advisors LLC owned about 1.30% of Greenlane as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 13.96% of the company’s stock.

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.