Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) Shares Shorted: Short Interest Down 35.4% in October

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 27,762 shares, a decline of 35.4% from the September 30th total of 43,002 shares. Based on an average daily volume of 10,045 shares, the days-to-cover ratio is presently 2.8 days. Approximately 3.5% of the shares of the company are short sold.

Greenwave Technology Solutions Price Performance

GWAV stock opened at $2.07 on Wednesday. The firm has a 50 day simple moving average of $3.04 and a two-hundred day simple moving average of $3.55. The stock has a market cap of $1.72 million, a PE ratio of -0.10 and a beta of -0.13. Greenwave Technology Solutions has a one year low of $1.91 and a one year high of $8.50. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.23 and a quick ratio of 0.12.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Greenwave Technology Solutions in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Insider Activity

In related news, CEO Danny Meeks acquired 2,152,853 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were bought at an average cost of $3.72 per share, for a total transaction of $8,008,613.16. Following the purchase, the chief executive officer owned 2,188,354 shares in the company, valued at $8,140,676.88. This trade represents a 6,064.20% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.00% of the company’s stock.

About Greenwave Technology Solutions

Greenwave Technology Solutions, Inc (NASDAQ: GWAV) is a metal recycling company that operates scrap metal processing facilities in the Mid-Atlantic region of the United States. The company purchases, collects, processes and sells ferrous and non-ferrous metals recovered from sources such as automobiles, appliances, construction materials and industrial equipment.

Greenwave’s operations are focused primarily in Virginia and North Carolina, where its facilities prepare recyclable metals for resale to steel mills, foundries and other industrial customers.