Short Interest in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) Declines By 70.2%

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totaling 22,996 shares, a drop of 70.2% from the December 15th total of 77,091 shares. Based on an average daily volume of 36,588 shares, the short-interest ratio is currently 0.6 days. Approximately 2.9% of the shares of the stock are sold short. Approximately 2.9% of the shares of the stock are sold short. Based on an average daily volume of 36,588 shares, the short-interest ratio is currently 0.6 days.

Greenwave Technology Solutions Stock Performance

Shares of GWAV stock traded up $0.12 on Thursday, hitting $4.84. 34,790 shares of the company’s stock traded hands, compared to its average volume of 40,390. The stock has a market capitalization of $4.02 million, a price-to-earnings ratio of 0.00 and a beta of -0.34. The company’s fifty day simple moving average is $5.86 and its 200 day simple moving average is $11.07. Greenwave Technology Solutions has a one year low of $4.25 and a one year high of $59.63.

Greenwave Technology Solutions (NASDAQ:GWAV) last posted its quarterly earnings results on Wednesday, November 19th. The company reported ($17.85) earnings per share for the quarter. The business had revenue of $7.33 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Greenwave Technology Solutions in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Greenwave Technology Solutions currently has an average rating of “Sell”.

Hedge Funds Weigh In On Greenwave Technology Solutions

A hedge fund recently bought a new stake in Greenwave Technology Solutions stock. XTX Topco Ltd purchased a new position in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 147,373 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned 0.24% of Greenwave Technology Solutions at the end of the most recent reporting period. Hedge funds and other institutional investors own 15.64% of the company’s stock.

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.