Greenwave Technology Solutions (NASDAQ:GWAV) Releases Earnings Results

Greenwave Technology Solutions (NASDAQ:GWAV) released its quarterly earnings data on Tuesday. The company reported ($3.91) earnings per share for the quarter, Zacks reports. Greenwave Technology Solutions had a negative net margin of 33.19% and a negative return on equity of 60.95%.

Greenwave Technology Solutions Trading Up 6.5%

Shares of NASDAQ GWAV opened at $3.92 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.13 and a current ratio of 0.24. Greenwave Technology Solutions has a 52-week low of $2.39 and a 52-week high of $24.00. The firm has a 50 day moving average price of $3.34 and a two-hundred day moving average price of $3.63. The stock has a market cap of $3.25 million, a P/E ratio of -0.15 and a beta of 0.14.

Hedge Funds Weigh In On Greenwave Technology Solutions

A hedge fund recently bought a new stake in Greenwave Technology Solutions stock. XTX Topco Ltd acquired a new position in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 147,373 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned about 0.24% of Greenwave Technology Solutions as of its most recent SEC filing. 15.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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