Greenwave Technology Solutions (NASDAQ:GWAV) Shares Down 4.5% – Here’s Why

by · The Markets Daily

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV – Get Free Report) dropped 4.5% on Thursday . The company traded as low as $3.20 and last traded at $3.22. Approximately 4,779 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 20,582 shares. The stock had previously closed at $3.37.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Greenwave Technology Solutions in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Greenwave Technology Solutions currently has an average rating of “Sell”.

Get Our Latest Stock Report on GWAV

Greenwave Technology Solutions Stock Performance

The company has a quick ratio of 0.11, a current ratio of 0.21 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average of $3.61 and a 200 day moving average of $4.22. The firm has a market cap of $2.67 million, a price-to-earnings ratio of -0.08 and a beta of 0.23.

Greenwave Technology Solutions (NASDAQ:GWAV – Get Free Report) last issued its quarterly earnings data on Friday, June 12th. The company reported ($7.16) earnings per share for the quarter. Greenwave Technology Solutions had a negative net margin of 46.33% and a negative return on equity of 62.56%. The business had revenue of $15.61 million for the quarter.

Institutional Trading of Greenwave Technology Solutions

An institutional investor recently bought a new position in Greenwave Technology Solutions stock. XTX Topco Ltd purchased a new stake in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 147,373 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned approximately 0.24% of Greenwave Technology Solutions at the end of the most recent reporting period. 15.64% of the stock is currently owned by hedge funds and other institutional investors.

About Greenwave Technology Solutions

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Greenwave Technology Solutions, Inc (NASDAQ: GWAV) is a developer of Internet of Things (IoT) connectivity management solutions. The company’s cloud-native platform enables enterprises and service providers to orchestrate, monitor and secure cellular data connections across a variety of devices and network operators, offering features such as remote provisioning, subscription management and real-time analytics.

Its core offerings include eSIM management, multi-operator roaming orchestration and automated compliance tools designed to simplify the deployment and lifecycle management of large-scale IoT and machine-to-machine (M2M) connectivity projects.

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