Greenwave Technology Solutions (NASDAQ:GWAV) Announces Quarterly Earnings Results

Greenwave Technology Solutions (NASDAQ:GWAV) released its quarterly earnings data on Wednesday. The company reported ($1.81) earnings per share (EPS) for the quarter, Zacks reports. Greenwave Technology Solutions had a negative net margin of 46.33% and a negative return on equity of 62.56%.

Greenwave Technology Solutions Stock Performance

Shares of Greenwave Technology Solutions stock traded up $0.11 during trading on Wednesday, reaching $2.59. The company’s stock had a trading volume of 4,276,119 shares, compared to its average volume of 100,510. Greenwave Technology Solutions has a fifty-two week low of $2.39 and a fifty-two week high of $24.62. The company has a current ratio of 0.21, a quick ratio of 0.11 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $3.23 and a two-hundred day moving average price of $3.74. The firm has a market cap of $2.15 million, a PE ratio of -0.06 and a beta of 0.17.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Greenwave Technology Solutions

An institutional investor recently bought a new position in Greenwave Technology Solutions stock. XTX Topco Ltd acquired a new position in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 147,373 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned about 0.24% of Greenwave Technology Solutions as of its most recent filing with the SEC. 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.