Greenwave Technology Solutions (NASDAQ:GWAV) Trading Up 1.4% – Still a Buy?

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV)’s stock price shot up 1.4% during trading on Thursday . The company traded as high as $3.32 and last traded at $2.97. 23,962 shares changed hands during mid-day trading, an increase of 129% from the average session volume of 10,460 shares. The stock had previously closed at $2.93.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Greenwave Technology Solutions in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Greenwave Technology Solutions Price Performance

The firm has a market capitalization of $2.39 million, a P/E ratio of -0.07 and a beta of 0.17. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.21 and a quick ratio of 0.11. The stock’s fifty day simple moving average is $3.36 and its 200 day simple moving average is $3.87.

Greenwave Technology Solutions (NASDAQ:GWAV) last released its quarterly earnings results on Friday, June 12th. The company reported ($7.16) earnings per share for the quarter. Greenwave Technology Solutions had a negative net margin of 46.33% and a negative return on equity of 62.56%. The firm had revenue of $15.61 million during the quarter.

Hedge Funds Weigh In On Greenwave Technology Solutions

An institutional investor recently bought a new stake in Greenwave Technology Solutions stock. XTX Topco Ltd purchased a new position in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 147,373 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned approximately 0.24% of Greenwave Technology Solutions at the end of the most recent quarter. Institutional investors and hedge funds 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.