Greenwave Technology Solutions (NASDAQ:GWAV) CEO Acquires $8,008,613.16 in Stock

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) CEO Danny Meeks bought 2,152,853 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were purchased at an average cost of $3.72 per share, for a total transaction of $8,008,613.16. Following the completion of the transaction, the chief executive officer owned 2,188,354 shares of the company’s stock, valued at $8,140,676.88. This represents a 6,064.20% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Greenwave Technology Solutions Stock Performance

Greenwave Technology Solutions stock traded down $0.82 during trading hours on Wednesday, hitting $4.38. The stock had a trading volume of 23,978 shares, compared to its average volume of 93,972. The company has a 50-day moving average of $3.73 and a two-hundred day moving average of $3.66. The company has a quick ratio of 0.12, a current ratio of 0.23 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.64 million, a PE ratio of -0.20 and a beta of 0.22. Greenwave Technology Solutions, Inc. has a fifty-two week low of $2.39 and a fifty-two week high of $24.00.

Greenwave Technology Solutions (NASDAQ:GWAV) last announced its quarterly earnings data on Tuesday, August 18th. The company reported ($3.91) earnings per share for the quarter. The firm 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 Analysts Forecast Growth

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Greenwave Technology Solutions stock. XTX Topco Ltd purchased 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 Securities and Exchange Commission (SEC). The firm purchased 147,373 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned 0.24% of Greenwave Technology Solutions as of its most recent SEC filing. Hedge funds and other institutional investors own 15.64% of the company’s stock.

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.