Short Interest in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) Decreases By 68.4%

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) saw a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 38,376 shares, a decrease of 68.4% from the July 30th total of 121,499 shares. Based on an average trading volume of 31,585 shares, the days-to-cover ratio is presently 1.2 days. Currently, 4.8% of the shares of the company are sold short.

Greenwave Technology Solutions Stock Performance

Greenwave Technology Solutions stock traded up $0.33 during trading hours on Friday, hitting $4.68. The stock had a trading volume of 18,747 shares, compared to its average volume of 33,915. The company has a 50-day moving average of $3.44 and a two-hundred day moving average of $3.60. The company has a quick ratio of 0.12, a current ratio of 0.23 and a debt-to-equity ratio of 0.07. Greenwave Technology Solutions has a fifty-two week low of $2.39 and a fifty-two week high of $24.00. The company has a market cap of $3.88 million, a PE ratio of -0.21 and a beta of 0.15.

Greenwave Technology Solutions (NASDAQ:GWAV) last announced its quarterly earnings data on Tuesday, August 18th. The company reported ($3.91) earnings per share for the quarter. The firm had revenue of $16.00 million for the quarter. Greenwave Technology Solutions had a negative return on equity of 64.32% and a negative net margin of 27.67%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Greenwave Technology Solutions

A hedge fund recently bought a new stake in Greenwave Technology Solutions stock. XTX Topco Ltd acquired 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 firm acquired 147,373 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned 0.24% of Greenwave Technology Solutions as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 15.64% of the company’s stock.

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.