Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) Short Interest Down 17.5% in March

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) was the recipient of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 84,574 shares, a decline of 17.5% from the February 26th total of 102,454 shares. Based on an average daily trading volume, of 7,905 shares, the short-interest ratio is currently 10.7 days. Approximately 10.6% of the shares of the stock are short sold.

Greenwave Technology Solutions Stock Up 0.6%

Greenwave Technology Solutions stock traded up $0.02 during midday trading on Wednesday, hitting $3.40. 3,548 shares of the company’s stock were exchanged, compared to its average volume of 148,681. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.20 and a current ratio of 0.34. The company has a market cap of $2.82 million, a PE ratio of -0.09 and a beta of -0.04. The firm has a 50-day moving average of $4.08 and a two-hundred day moving average of $5.70. Greenwave Technology Solutions has a 12 month low of $3.24 and a 12 month high of $34.45.

Greenwave Technology Solutions (NASDAQ:GWAV) last issued its quarterly earnings data on Friday, March 6th. The company reported ($8.89) earnings per share (EPS) for the quarter. Greenwave Technology Solutions had a negative net margin of 84.30% and a negative return on equity of 89.17%. The business had revenue of $12.68 million for the quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GWAV. Weiss Ratings restated a “sell (e+)” rating on shares of Greenwave Technology Solutions in a research report on Thursday, January 22nd. Wall Street Zen upgraded Greenwave Technology Solutions from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus 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 acquired a new stake in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 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 quarter. 15.64% of the stock is owned by institutional investors.

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.