Greenwave Technology Solutions (NASDAQ:GWAV) Trading 3.4% Higher – Time to Buy?

Shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) rose 3.4% on Wednesday . The stock traded as high as $3.95 and last traded at $3.92. Approximately 11,063 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 82,960 shares. The stock had previously closed at $3.79.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GWAV. Weiss Ratings reiterated a “sell (e+)” rating on shares of Greenwave Technology Solutions in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Greenwave Technology Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Greenwave Technology Solutions Stock Up 3.4%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.45 and a current ratio of 0.51. The firm’s 50 day moving average price is $4.61 and its two-hundred day moving average price is $6.43. The company has a market cap of $3.25 million, a P/E ratio of -0.07 and a beta of -0.04.

Greenwave Technology Solutions (NASDAQ:GWAV) last posted its quarterly earnings results on Thursday, February 5th. The company reported ($8.98) EPS for the quarter. Greenwave Technology Solutions had a negative return on equity of 78.14% and a negative net margin of 92.92%.The company had revenue of $11.00 million during the quarter.

Institutional Investors 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 stake in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 quarter. Institutional investors and hedge funds 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.