Greenwave Technology Solutions (NASDAQ:GWAV) Stock Price Up 1.4% – Time to Buy?

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) shares were up 1.4% on Thursday . The stock traded as high as $3.32 and last traded at $2.97. Approximately 23,962 shares changed hands during trading, an increase of 129% from the average daily volume of 10,460 shares. The stock had previously closed at $2.93.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Greenwave Technology Solutions in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Greenwave Technology Solutions Trading Up 1.4%

The company has a fifty day simple moving average of $3.38 and a two-hundred day simple moving average of $3.88. The company has a market capitalization of $2.47 million, a P/E ratio of -0.07 and a beta of 0.17. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.21 and a quick ratio of 0.11.

Greenwave Technology Solutions (NASDAQ:GWAV) last released its quarterly earnings results on Friday, June 12th. The company reported ($7.16) earnings per share (EPS) for the quarter. The company had revenue of $15.61 million for the quarter. Greenwave Technology Solutions had a negative return on equity of 62.56% and a negative net margin of 46.33%.

Institutional Investors Weigh In On 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 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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. 15.64% of the stock is owned by hedge funds and other 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.