Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) Sees Significant Growth in Short Interest

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totaling 121,499 shares, a growth of 483.1% from the July 15th total of 20,836 shares. Currently, 15.2% of the company’s shares are short sold. Based on an average daily volume of 438,696 shares, the days-to-cover ratio is currently 0.3 days.

Greenwave Technology Solutions Stock Performance

Shares of Greenwave Technology Solutions stock traded down $0.27 on Thursday, reaching $3.91. The stock had a trading volume of 6,122 shares, compared to its average volume of 101,795. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.13 and a current ratio of 0.24. The business’s 50-day moving average price is $3.31 and its two-hundred day moving average price is $3.66. The stock has a market cap of $3.25 million, a P/E ratio of -0.15 and a beta of 0.15. Greenwave Technology Solutions has a fifty-two week low of $2.39 and a fifty-two week high of $24.00.

Greenwave Technology Solutions (NASDAQ:GWAV) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($1.81) earnings per share (EPS) for the quarter. Greenwave Technology Solutions had a negative return on equity of 60.95% and a negative net margin of 33.19%.The company had revenue of $16.28 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Greenwave Technology Solutions in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Greenwave Technology Solutions presently has an average rating of “Sell”.

Hedge Funds Weigh In On Greenwave Technology Solutions

A hedge fund recently bought a new position in Greenwave Technology Solutions stock. XTX Topco Ltd bought a new stake in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 147,373 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned approximately 0.24% of Greenwave Technology Solutions as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 15.64% of the company’s stock.

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.