Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) Short Interest Down 68.4% in August

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) was the recipient of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 38,376 shares, a decline of 68.4% from the July 30th total of 121,499 shares. Currently, 4.8% of the company’s stock are short sold. Based on an average daily trading volume, of 31,585 shares, the short-interest ratio is currently 1.2 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Greenwave Technology Solutions in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Greenwave Technology Solutions Stock Up 7.6%

Greenwave Technology Solutions stock traded up $0.33 during trading hours on Friday, hitting $4.68. The company had a trading volume of 18,747 shares, compared to its average volume of 96,882. Greenwave Technology Solutions has a fifty-two week low of $2.39 and a fifty-two week high of $24.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.23 and a quick ratio of 0.12. The firm has a market capitalization of $3.88 million, a P/E ratio of -0.21 and a beta of 0.15. The firm’s fifty day moving average is $3.41 and its 200-day moving average is $3.59.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Greenwave Technology Solutions stock. XTX Topco Ltd purchased a new position in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 147,373 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned approximately 0.24% of Greenwave Technology Solutions at the end of the most recent reporting period. 15.64% of the stock is owned by institutional investors.

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.