Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) Short Interest Down 32.7% in August

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 25,812 shares, a drop of 32.7% from the August 15th total of 38,376 shares. Based on an average daily volume of 28,602 shares, the days-to-cover ratio is presently 0.9 days. Approximately 3.2% of the company’s stock are sold short.

Wall Street Analyst Weigh In

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, According to MarketBeat.com, Greenwave Technology Solutions currently has a consensus rating of “Sell”.

Greenwave Technology Solutions Price Performance

Shares of NASDAQ GWAV opened at $2.45 on Friday. The stock’s 50-day simple moving average is $3.77 and its 200-day simple moving average is $3.64. The firm has a market capitalization of $2.03 million, a PE ratio of -0.11 and a beta of 0.22. Greenwave Technology Solutions has a fifty-two week low of $2.19 and a fifty-two week high of $24.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.12 and a current ratio of 0.23.

Greenwave Technology Solutions (NASDAQ:GWAV) last announced its quarterly earnings results on Tuesday, August 18th. The company reported ($3.91) earnings per share (EPS) for the quarter. Greenwave Technology Solutions had a negative net margin of 27.67% and a negative return on equity of 64.32%. The business had revenue of $16.00 million during the quarter.

Insider Buying and Selling

In other Greenwave Technology Solutions news, CEO Danny Meeks purchased 2,152,853 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was acquired at an average price of $3.72 per share, for a total transaction of $8,008,613.16. Following the completion of the purchase, the chief executive officer directly owned 2,188,354 shares in the company, valued at approximately $8,140,676.88. The trade was a 6,064.20% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.00% of the stock is owned by corporate insiders.

Greenwave Technology Solutions Company Profile

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.