Greenwave Technology Solutions (NASDAQ:GWAV) CEO Danny Meeks Purchases 2,152,853 Shares of Stock

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) CEO Danny Meeks bought 2,152,853 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was purchased at an average price of $3.72 per share, for a total transaction of $8,008,613.16. Following the acquisition, the chief executive officer directly owned 2,188,354 shares in the company, valued at approximately $8,140,676.88. This trade represents a 6,064.20% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Greenwave Technology Solutions Stock Performance

Greenwave Technology Solutions stock traded down $0.82 on Wednesday, reaching $4.38. 23,978 shares of the stock were exchanged, compared to its average volume of 93,972. The stock has a market cap of $3.64 million, a PE ratio of -0.20 and a beta of 0.22. The company has a current ratio of 0.23, a quick ratio of 0.12 and a debt-to-equity ratio of 0.07. Greenwave Technology Solutions, Inc. has a twelve month low of $2.39 and a twelve month high of $24.00. The firm has a fifty day moving average price of $3.73 and a two-hundred day moving average price of $3.66.

Greenwave Technology Solutions (NASDAQ:GWAV) last issued its quarterly earnings results on Tuesday, August 18th. The company reported ($3.91) earnings per share (EPS) for the quarter. The business had revenue of $16.00 million during the quarter. Greenwave Technology Solutions had a negative net margin of 27.67% and a negative return on equity of 64.32%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Greenwave Technology Solutions in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Greenwave Technology Solutions presently has an average rating of “Sell”.

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 position in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) during the 2nd quarter, according to its most recent 13F filing with the SEC. 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. Institutional investors own 15.64% of the company’s stock.

Greenwave Technology Solutions Company Profile

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.