Short Interest in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) Grows By 483.1%

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 121,499 shares, an increase of 483.1% from the July 15th total of 20,836 shares. Based on an average daily trading volume, of 438,696 shares, the days-to-cover ratio is currently 0.3 days. Currently, 15.2% of the company’s stock are sold short.

Analysts Set New Price Targets

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

Institutional Trading of Greenwave Technology Solutions

An institutional investor recently bought a new stake in Greenwave Technology Solutions stock. XTX Topco Ltd acquired a new stake in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 filing with the Securities and Exchange Commission (SEC). Institutional investors own 15.64% of the company’s stock.

Greenwave Technology Solutions Stock Performance

Greenwave Technology Solutions stock traded down $0.24 during mid-day trading on Wednesday, reaching $4.00. 4,498 shares of the company traded hands, compared to its average volume of 102,409. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.24 and a quick ratio of 0.13. Greenwave Technology Solutions has a fifty-two week low of $2.39 and a fifty-two week high of $24.00. The company has a market capitalization of $3.32 million, a price-to-earnings ratio of -0.15 and a beta of 0.15. The firm’s fifty day moving average is $3.29 and its two-hundred day moving average is $3.67.

Greenwave Technology Solutions (NASDAQ:GWAV) last posted its quarterly earnings data on Wednesday, July 29th. The company reported ($1.81) EPS for the quarter. The company had revenue of $16.28 million for the quarter. Greenwave Technology Solutions had a negative return on equity of 60.95% and a negative net margin of 33.19%.

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.