Greenwave Technology Solutions (NASDAQ:GWAV) Announces Earnings Results

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

Greenwave Technology Solutions Price Performance

Shares of Greenwave Technology Solutions stock traded up $0.13 on Wednesday, hitting $2.61. 4,376,538 shares of the company traded hands, compared to its average volume of 100,510. The firm’s 50-day simple moving average is $3.23 and its 200 day simple moving average is $3.74. Greenwave Technology Solutions has a 12-month low of $2.39 and a 12-month high of $24.62. The company has a current ratio of 0.21, a quick ratio of 0.11 and a debt-to-equity ratio of 0.23. The company has a market cap of $2.17 million, a P/E ratio of -0.06 and a beta of 0.17.

Institutional Trading of Greenwave Technology Solutions

An institutional investor recently bought a new stake in Greenwave Technology Solutions stock. XTX Topco Ltd purchased a new stake in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 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. Institutional investors and hedge funds own 15.64% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.