Greenwave Technology Solutions, Inc. (NASDAQ:GWAV – Get Free Report) was the target of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 38,376 shares, a drop of 68.4% from the July 30th total of 121,499 shares. Approximately 4.8% of the company’s stock are short sold. Based on an average daily volume of 31,585 shares, the days-to-cover ratio is currently 1.2 days.
Hedge Funds Weigh In On Greenwave Technology Solutions
A hedge fund recently bought a new stake in Greenwave Technology Solutions stock. XTX Topco Ltd purchased a new stake in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 147,373 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned about 0.24% of Greenwave Technology Solutions at the end of the most recent reporting period. 15.64% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Greenwave Technology Solutions in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.
Greenwave Technology Solutions Trading Down 6.4%
Shares of GWAV opened at $4.24 on Thursday. Greenwave Technology Solutions has a fifty-two week low of $2.39 and a fifty-two week high of $24.00. The business has a 50-day moving average of $3.39 and a 200 day moving average of $3.59. The firm has a market cap of $3.52 million, a P/E ratio of -0.19 and a beta of 0.15. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.12 and a current ratio of 0.23.
Greenwave Technology Solutions (NASDAQ:GWAV – Get Free Report) last posted its earnings results on Tuesday, August 18th. The company reported ($3.91) earnings per share (EPS) for the quarter. The company had revenue of $16.00 million for the quarter. Greenwave Technology Solutions had a negative return on equity of 64.32% and a negative net margin of 27.67%.
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.
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