Greenwave Technology Solutions (NASDAQ:GWAV) Trading Down 1.4% – What’s Next?

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV)’s share price dropped 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.

Wall Street Analysts Forecast Growth

GWAV has been the subject of a number of research reports. 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 equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Greenwave Technology Solutions Trading Down 1.4%

The business has a 50 day simple moving average of $3.64 and a two-hundred day simple moving average of $4.51. 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 stock has a market cap of $2.91 million, a price-to-earnings ratio of -0.10 and a beta of 0.23.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Greenwave Technology Solutions stock. XTX Topco Ltd acquired a new stake in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period. 15.64% of the stock is owned by 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.