Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) Stock Short Interest Report for October

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 27,762 shares, a decline of 35.4% from the September 30th total of 43,002 shares. Based on an average daily trading volume, of 10,045 shares, the days-to-cover ratio is currently 2.8 days. Currently, 3.5% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Greenwave Technology Solutions in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Insider Transactions at Greenwave Technology Solutions

In other news, CEO Danny Meeks purchased 2,152,853 shares of the company’s stock in a transaction dated 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 purchase, the chief executive officer directly owned 2,188,354 shares in the company, valued at approximately $8,140,676.88. This represents a 6,064.20% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Greenwave Technology Solutions Stock Performance

Shares of NASDAQ GWAV opened at $1.91 on Monday. The company has a market cap of $1.59 million, a price-to-earnings ratio of -0.09 and a beta of -0.13. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.12 and a current ratio of 0.23. Greenwave Technology Solutions has a fifty-two week low of $1.91 and a fifty-two week high of $8.50. The business’s 50 day moving average price is $3.11 and its 200-day moving average price is $3.58.

Greenwave Technology Solutions (NASDAQ:GWAV) last posted its earnings results on Tuesday, August 18th. The company reported ($3.91) EPS for the quarter. The business had revenue of $16.00 million for the quarter. Greenwave Technology Solutions had a negative net margin of 27.67% and a negative return on equity of 64.32%.

About Greenwave Technology Solutions

Greenwave Technology Solutions, Inc (NASDAQ: GWAV) is a metal recycling company that operates scrap metal processing facilities in the Mid-Atlantic region of the United States. The company purchases, collects, processes and sells ferrous and non-ferrous metals recovered from sources such as automobiles, appliances, construction materials and industrial equipment.

Greenwave’s operations are focused primarily in Virginia and North Carolina, where its facilities prepare recyclable metals for resale to steel mills, foundries and other industrial customers.