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

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) was the recipient of 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 daily trading volume, of 31,585 shares, the days-to-cover ratio is currently 1.2 days. Currently, 4.8% of the company’s shares are short sold.

Hedge Funds Weigh In On Greenwave Technology Solutions

An institutional investor recently bought a new position in Greenwave Technology Solutions stock. XTX Topco Ltd bought a new position in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 147,373 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned about 0.24% of Greenwave Technology Solutions as of its most recent SEC filing. Institutional investors own 15.64% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated 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 MarketBeat.com, Greenwave Technology Solutions has an average rating of “Sell”.

Greenwave Technology Solutions Price Performance

NASDAQ:GWAV opened at $4.24 on Thursday. Greenwave Technology Solutions has a 52-week low of $2.39 and a 52-week high of $24.00. The company has a market cap of $3.52 million, a P/E ratio of -0.19 and a beta of 0.15. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.12 and a current ratio of 0.23. The stock’s 50-day simple moving average is $3.39 and its 200 day simple moving average is $3.59.

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

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.