Greenwave Technology Solutions (NASDAQ:GWAV) Announces Earnings Results

Greenwave Technology Solutions (NASDAQ:GWAV) released its earnings results on Wednesday. The company reported ($1.81) earnings per share for the quarter, Zacks reports. Greenwave Technology Solutions had a negative net margin of 46.33% and a negative return on equity of 62.56%.

Greenwave Technology Solutions Stock Up 4.4%

NASDAQ GWAV traded up $0.11 during trading hours on Wednesday, hitting $2.59. 4,276,119 shares of the company were exchanged, compared to its average volume of 100,510. The company has a quick ratio of 0.11, a current ratio of 0.21 and a debt-to-equity ratio of 0.23. The firm has a market cap of $2.15 million, a price-to-earnings ratio of -0.06 and a beta of 0.17. The company has a 50 day moving average of $3.23 and a two-hundred day moving average of $3.74. Greenwave Technology Solutions has a 52-week low of $2.39 and a 52-week high of $24.62.

Hedge Funds 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 stake in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 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 quarter. 15.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.