Greenwave Technology Solutions (NASDAQ:GWAV) Trading Down 1.4% – Here’s Why

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV)’s stock price was down 1.4% on Wednesday . The company traded as low as $3.50 and last traded at $3.50. Approximately 15,427 shares were traded during trading, an increase of 78% from the average daily volume of 8,684 shares. The stock had previously closed at $3.55.

Analysts Set New Price Targets

A number of analysts have weighed in on GWAV shares. Wall Street Zen raised shares of Greenwave Technology Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Greenwave Technology Solutions in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Greenwave Technology Solutions Trading Down 5.8%

The company has a market cap of $2.74 million, a price-to-earnings ratio of -0.09 and a beta of 0.23. The company has a current ratio of 0.34, a quick ratio of 0.20 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $3.63 and its 200 day moving average price is $4.49.

Greenwave Technology Solutions (NASDAQ:GWAV) last announced its quarterly earnings data on Friday, March 6th. The company reported ($8.89) EPS for the quarter. The company had revenue of $12.68 million for the quarter. Greenwave Technology Solutions had a negative return on equity of 89.17% and a negative net margin of 84.30%.

Institutional Trading of Greenwave Technology Solutions

An institutional investor recently bought a new position 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. Hedge funds and other institutional investors own 15.64% of the company’s stock.

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.