Greenwave Technology Solutions (NASDAQ:GWAV) Stock Price Down 12% – Should You Sell?

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) was down 12% during mid-day trading on Thursday . The stock traded as low as $6.46 and last traded at $7.04. Approximately 138,063 shares traded hands during mid-day trading, an increase of 18% from the average daily volume of 116,671 shares. The stock had previously closed at $8.00.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GWAV shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Greenwave Technology Solutions in a research note on Wednesday, October 8th. Wall Street Zen raised Greenwave Technology Solutions to a “sell” rating in a research report on Saturday, August 30th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Greenwave Technology Solutions Stock Down 4.7%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.40 and a current ratio of 0.63. The stock has a market cap of $5.57 million, a price-to-earnings ratio of 0.00 and a beta of -0.16. The business’s 50 day moving average is $7.22 and its 200 day moving average is $13.85.

Greenwave Technology Solutions (NASDAQ:GWAV) last issued its earnings results on Wednesday, November 19th. The company reported ($17.85) EPS for the quarter. The business had revenue of $7.33 million during the quarter. Greenwave Technology Solutions had a negative return on equity of 82.32% and a negative net margin of 63.84%.

Hedge Funds Weigh In On Greenwave Technology Solutions

A hedge fund recently bought a new stake in Greenwave Technology Solutions stock. XTX Topco Ltd purchased a new position in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) in the 2nd quarter, according to 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 filing with the Securities and Exchange Commission (SEC). 15.64% of the stock is currently owned by institutional investors and hedge funds.

About Greenwave Technology Solutions

Greenwave Technology Solutions, Inc, through its subsidiary, operates metal recycling facilities in Virginia, Ohio, and North Carolina. The company collects, classifies, and processes appliances, construction materials, end-of-life vehicles, boats, and industrial machinery. It is also involved in the purchasing and sale of processed and unprocessed scrap metals; and operation of automotive shredders.