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

Greenwave Technology Solutions (NASDAQ:GWAV) announced its quarterly earnings data on Tuesday. The company reported ($3.91) earnings per share for the quarter, Zacks reports. Greenwave Technology Solutions had a negative return on equity of 60.95% and a negative net margin of 33.19%.

Greenwave Technology Solutions Stock Performance

NASDAQ:GWAV traded up $0.24 during mid-day trading on Tuesday, reaching $3.92. The company’s stock had a trading volume of 8,265 shares, compared to its average volume of 100,744. The stock has a market cap of $3.25 million, a P/E ratio of -0.15 and a beta of 0.14. The firm’s fifty day moving average price is $3.33 and its two-hundred day moving average price is $3.63. Greenwave Technology Solutions has a 12-month low of $2.39 and a 12-month high of $24.00. The company has a current ratio of 0.24, a quick ratio of 0.13 and a debt-to-equity ratio of 0.23.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Greenwave Technology Solutions stock. XTX Topco Ltd purchased a new stake in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 filing with the Securities & Exchange Commission. 15.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.