Greenlane Renewables (TSE:GRN) Shares Down 13% – Here’s Why

Greenlane Renewables Inc. (TSE:GRN)’s share price dropped 13% during trading on Tuesday . The company traded as low as C$0.10 and last traded at C$0.10. Approximately 111,280 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 135,151 shares. The stock had previously closed at C$0.12.

Analyst Upgrades and Downgrades

Separately, TD Securities lowered shares of Greenlane Renewables from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 8th.

Greenlane Renewables Stock Up 5.6 %

The company’s fifty day simple moving average is C$0.07 and its 200-day simple moving average is C$0.08. The firm has a market capitalization of C$14.65 million, a PE ratio of -0.59, a price-to-earnings-growth ratio of -555.67 and a beta of 2.50. The company has a debt-to-equity ratio of 9.17, a current ratio of 1.48 and a quick ratio of 2.05.

About Greenlane Renewables

Greenlane Renewables Inc provides biogas upgrading systems worldwide. Its systems remove impurities and separate carbon dioxide from biomethane in the raw biogas created from biomethane at landfills, wastewater treatment plants, and farms and for injection food waste facilities into the natural gas grid or for direct use as vehicle fuel.