Greenwave Technology Solutions (NASDAQ:GWAV) CEO Danny Meeks Buys 2,152,853 Shares of Stock

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) CEO Danny Meeks bought 2,152,853 shares of Greenwave Technology Solutions stock in a transaction dated Thursday, August 27th. The stock was acquired at an average cost of $3.72 per share, with a total value of $8,008,613.16. Following the transaction, the chief executive officer owned 2,188,354 shares of the company’s stock, valued at $8,140,676.88. This trade represents a 6,064.20% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Greenwave Technology Solutions Trading Down 15.8%

GWAV stock opened at $4.38 on Thursday. The company’s 50-day simple moving average is $3.75 and its 200 day simple moving average is $3.66. Greenwave Technology Solutions, Inc. has a 52 week low of $2.39 and a 52 week high of $24.00. The company has a market capitalization of $3.64 million, a PE ratio of -0.20 and a beta of 0.22. 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 earnings results on Tuesday, August 18th. The company reported ($3.91) EPS 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%.

Hedge Funds Weigh In On Greenwave Technology Solutions

An institutional investor recently bought a new stake in Greenwave Technology Solutions stock. XTX Topco Ltd acquired a new position in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 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.

Wall Street Analysts Forecast Growth

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

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.