Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) Shares Shorted: Short Interest Down 35.4% in October

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 27,762 shares, a drop of 35.4% from the September 30th total of 43,002 shares. Approximately 3.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 10,045 shares, the short-interest ratio is currently 2.8 days.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Greenwave Technology Solutions in a research report on Thursday, October 15th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Greenwave Technology Solutions Price Performance

Shares of NASDAQ:GWAV traded up $0.10 during trading on Tuesday, reaching $2.12. The company had a trading volume of 3,285 shares, compared to its average volume of 83,323. The company has a fifty day moving average of $3.08 and a two-hundred day moving average of $3.56. The company has a current ratio of 0.23, a quick ratio of 0.12 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.76 million, a P/E ratio of -0.10 and a beta of 0.24. Greenwave Technology Solutions has a 12 month low of $1.91 and a 12 month high of $8.50.

Greenwave Technology Solutions (NASDAQ:GWAV) last posted its quarterly earnings data on Tuesday, August 18th. The company reported ($3.91) earnings per share (EPS) for the quarter. The company 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%.

Insider Transactions at Greenwave Technology Solutions

In other Greenwave Technology Solutions news, CEO Danny Meeks bought 2,152,853 shares of Greenwave Technology Solutions stock in a transaction that occurred on Thursday, August 27th. The stock was acquired at an average cost of $3.72 per share, for a total transaction of $8,008,613.16. Following the completion of the transaction, the chief executive officer directly owned 2,188,354 shares in the company, valued at $8,140,676.88. This represents a 6,064.20% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.00% of the company’s stock.

About Greenwave Technology Solutions

Greenwave Technology Solutions, Inc (NASDAQ: GWAV) is a metal recycling company that operates scrap metal processing facilities in the Mid-Atlantic region of the United States. The company purchases, collects, processes and sells ferrous and non-ferrous metals recovered from sources such as automobiles, appliances, construction materials and industrial equipment.

Greenwave’s operations are focused primarily in Virginia and North Carolina, where its facilities prepare recyclable metals for resale to steel mills, foundries and other industrial customers.