Greenwave Technology Solutions (NASDAQ:GWAV) Announces Earnings Results

Greenwave Technology Solutions (NASDAQ:GWAV) posted 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 Trading Up 23.4%

Shares of GWAV stock opened at $3.06 on Thursday. The company has a quick ratio of 0.11, a current ratio of 0.21 and a debt-to-equity ratio of 0.23. Greenwave Technology Solutions has a fifty-two week low of $2.39 and a fifty-two week high of $24.62. The firm’s 50 day moving average price is $3.22 and its two-hundred day moving average price is $3.73. The stock has a market cap of $2.54 million, a price-to-earnings ratio of -0.07 and a beta of 0.17.

Hedge Funds Weigh In On Greenwave Technology Solutions

An institutional investor recently bought a new position in Greenwave Technology Solutions stock. XTX Topco Ltd purchased a new position in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 147,373 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned 0.24% of Greenwave Technology Solutions at the end of the most recent quarter. 15.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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