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

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Greenwave Technology Solutions in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Greenwave Technology Solutions Price Performance

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

Greenwave Technology Solutions (NASDAQ:GWAV) last released 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 return on equity of 62.56% and a negative net margin of 46.33%.The business had revenue of $15.61 million for 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) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 147,373 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned 0.24% of Greenwave Technology Solutions at the end of the most recent reporting period. Institutional investors and hedge funds 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.