Greenwave Technology Solutions (NASDAQ:GWAV) Releases Earnings Results

Greenwave Technology Solutions (NASDAQ:GWAV) posted its earnings results on Tuesday. The company reported ($3.91) EPS for the quarter, Zacks reports. Greenwave Technology Solutions had a negative net margin of 27.67% and a negative return on equity of 60.55%. The company had revenue of $16.00 million during the quarter.

Greenwave Technology Solutions Stock Performance

Greenwave Technology Solutions stock opened at $3.47 on Thursday. The stock has a fifty day moving average of $3.34 and a two-hundred day moving average of $3.62. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.13 and a current ratio of 0.24. The company has a market capitalization of $2.88 million, a price-to-earnings ratio of -0.16 and a beta of 0.15. Greenwave Technology Solutions has a fifty-two week low of $2.39 and a fifty-two week high of $24.00.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Greenwave Technology Solutions stock. XTX Topco Ltd purchased a new position in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 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. 15.64% of the stock is owned by hedge funds and other 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.