Greenwave Technology Solutions (NASDAQ:GWAV) Trading 6.6% Higher – What’s Next?

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) shares rose 6.6% on Thursday . The company traded as high as $0.51 and last traded at $0.44. Approximately 2,595,322 shares were traded during trading, an increase of 8% from the average daily volume of 2,405,748 shares. The stock had previously closed at $0.41.

Greenwave Technology Solutions Price Performance

The firm’s fifty day moving average is $0.55 and its two-hundred day moving average is $0.61. The company has a market cap of $9.54 million, a P/E ratio of -0.01 and a beta of 1.35. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.36 and a current ratio of 1.52.

Insider Transactions at Greenwave Technology Solutions

In related news, Director Jason T. Adelman acquired 100,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average cost of $0.66 per share, with a total value of $66,000.00. Following the purchase, the director now directly owns 400,000 shares of the company’s stock, valued at approximately $264,000. This trade represents a 33.33 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Danny Meeks acquired 377,002 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were purchased at an average cost of $0.66 per share, with a total value of $248,821.32. Following the completion of the purchase, the chief executive officer now directly owns 2,122,695 shares of the company’s stock, valued at $1,400,978.70. This trade represents a 21.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 7.93% of the company’s stock.

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.