Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) Sees Large Growth in Short Interest

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) saw a significant growth in short interest in December. As of December 15th, there was short interest totaling 77,091 shares, a growth of 265.2% from the November 30th total of 21,111 shares. Based on an average trading volume of 199,825 shares, the short-interest ratio is currently 0.4 days. Currently, 9.7% of the shares of the company are short sold. Currently, 9.7% of the shares of the company are short sold. Based on an average trading volume of 199,825 shares, the short-interest ratio is currently 0.4 days.

Institutional Investors Weigh In On Greenwave Technology Solutions

A hedge fund recently raised its stake in Greenwave Technology Solutions stock. Anson Funds Management LP grew its stake in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) by 11,241.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,843,160 shares of the company’s stock after acquiring an additional 4,800,458 shares during the period. Anson Funds Management LP owned about 7.92% of Greenwave Technology Solutions worth $1,142,000 at the end of the most recent reporting period. 15.64% of the stock is owned by institutional investors and hedge funds.

Greenwave Technology Solutions Stock Performance

Shares of NASDAQ GWAV traded down $0.08 during midday trading on Thursday, reaching $5.44. 10,374 shares of the company were exchanged, compared to its average volume of 124,887. The stock has a market cap of $4.51 million, a P/E ratio of 0.00 and a beta of -0.16. Greenwave Technology Solutions has a 1 year low of $4.25 and a 1 year high of $89.75. The stock has a fifty day simple moving average of $6.67 and a 200 day simple moving average of $12.89. The company has a current ratio of 0.63, a quick ratio of 0.40 and a debt-to-equity ratio of 0.12.

Greenwave Technology Solutions (NASDAQ:GWAV) last announced its earnings results on Wednesday, November 19th. The company reported ($17.85) earnings per share for the quarter. The company had revenue of $7.33 million during the quarter. Greenwave Technology Solutions had a negative net margin of 63.84% and a negative return on equity of 82.32%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GWAV shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Greenwave Technology Solutions in a report on Wednesday, October 8th. Wall Street Zen upgraded Greenwave Technology Solutions to a “sell” rating in a research note on Saturday, August 30th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus 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.