Greenwave Technology Solutions (NASDAQ:GWAV) Shares Down 3.6% – Here’s Why

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV)’s share price was down 3.6% during mid-day trading on Friday . The stock traded as low as $0.33 and last traded at $0.33. Approximately 4,648,328 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 4,891,737 shares. The stock had previously closed at $0.35.

Greenwave Technology Solutions Price Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 1.52 and a quick ratio of 1.36. The company’s 50 day moving average is $0.54 and its 200-day moving average is $0.48.

Insider Buying and Selling

In other news, Director Jason T. Adelman acquired 100,000 shares of Greenwave Technology Solutions stock in a transaction on Wednesday, December 4th. The stock was acquired at an average cost of $0.66 per share, for a total transaction of $66,000.00. Following the purchase, the director now owns 400,000 shares in the company, valued at $264,000. This trade represents a 33.33 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Danny Meeks acquired 377,002 shares of Greenwave Technology Solutions stock in a transaction on Wednesday, December 4th. The shares were purchased at an average price of $0.66 per share, with a total value of $248,821.32. Following the completion of the purchase, the chief executive officer now owns 2,122,695 shares in the company, valued at $1,400,978.70. This represents a 21.60 % increase in their position. The disclosure for this purchase can be found here. 7.93% of the stock is owned by company insiders.

Institutional Trading of Greenwave Technology Solutions

A hedge fund recently raised its stake in Greenwave Technology Solutions stock. Geode Capital Management LLC increased its holdings in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) by 134.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 177,055 shares of the company’s stock after buying an additional 101,579 shares during the quarter. Geode Capital Management LLC owned 0.79% of Greenwave Technology Solutions worth $124,000 at the end of the most recent reporting period. 15.64% of the stock is currently owned by institutional investors.

About Greenwave Technology Solutions

Greenwave Technology Solutions, Inc, through its subsidiary, operates metal recycling facilities in Virginia, Ohio, and North Carolina. The company collects, classifies, and processes appliances, construction materials, end-of-life vehicles, boats, and industrial machinery. It is also involved in the purchasing and sale of processed and unprocessed scrap metals; and operation of automotive shredders.