Greenwave Technology Solutions (NASDAQ:GWAV) Shares Down 2.5% – Time to Sell?

Shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) were down 2.5% during mid-day trading on Monday . The company traded as low as $3.81 and last traded at $3.89. Approximately 8,839 shares traded hands during trading, a decline of 6% from the average daily volume of 9,443 shares. The stock had previously closed at $3.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GWAV shares. Wall Street Zen raised Greenwave Technology Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Greenwave Technology Solutions in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Greenwave Technology Solutions Stock Performance

The stock has a 50 day simple moving average of $3.72 and a 200 day simple moving average of $5.36. The company has a market cap of $3.20 million, a price-to-earnings ratio of -0.11 and a beta of 0.05. The company has a quick ratio of 0.20, a current ratio of 0.34 and a debt-to-equity ratio of 0.19.

Greenwave Technology Solutions (NASDAQ:GWAV) last released its quarterly earnings results on Friday, March 6th. The company reported ($8.89) EPS for the quarter. Greenwave Technology Solutions had a negative return on equity of 89.17% and a negative net margin of 84.30%.The business had revenue of $12.68 million during the quarter.

Institutional Trading of Greenwave Technology Solutions

A hedge fund recently bought a new stake in Greenwave Technology Solutions stock. XTX Topco Ltd acquired a new stake in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 147,373 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned approximately 0.24% of Greenwave Technology Solutions as of its most recent SEC filing. Institutional investors own 15.64% of the company’s stock.

About Greenwave Technology Solutions

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.