Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) Sees Large Decline in Short Interest

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) was the target of a large decline in short interest in December. As of December 31st, there was short interest totaling 22,996 shares, a decline of 70.2% from the December 15th total of 77,091 shares. Based on an average daily volume of 36,588 shares, the days-to-cover ratio is currently 0.6 days. Approximately 2.9% of the shares of the company are sold short. Approximately 2.9% of the shares of the company are sold short. Based on an average daily volume of 36,588 shares, the days-to-cover ratio is currently 0.6 days.

Greenwave Technology Solutions Stock Up 4.5%

Shares of GWAV stock traded up $0.20 on Wednesday, reaching $4.65. The company had a trading volume of 36,490 shares, compared to its average volume of 48,953. Greenwave Technology Solutions has a one year low of $4.25 and a one year high of $59.63. The stock has a market capitalization of $3.86 million, a PE ratio of 0.00 and a beta of -0.34. The business’s 50-day moving average is $5.92 and its 200 day moving average is $11.16.

Greenwave Technology Solutions (NASDAQ:GWAV) last issued its earnings results on Wednesday, November 19th. The company reported ($17.85) earnings per share (EPS) for the quarter. The business had revenue of $7.33 million during the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Greenwave Technology Solutions in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Greenwave Technology Solutions

An institutional investor recently bought a new position in Greenwave Technology Solutions stock. XTX Topco Ltd bought a new position in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 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. Hedge funds and other 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.