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

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) saw a large increase in short interest in 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. Approximately 15.2% of the shares of the company are short sold.

Hedge Funds Weigh In On Greenwave Technology Solutions

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) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 & Exchange Commission. Institutional investors own 15.64% of the company’s stock.

Greenwave Technology Solutions Stock Performance

Shares of GWAV traded down $0.24 during mid-day trading on Wednesday, reaching $4.00. The company had a trading volume of 4,498 shares, compared to its average volume of 102,409. Greenwave Technology Solutions has a 52-week low of $2.39 and a 52-week high of $24.00. The company has a quick ratio of 0.13, a current ratio of 0.24 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $3.32 million, a P/E ratio of -0.15 and a beta of 0.15. The stock has a 50 day moving average of $3.29 and a two-hundred day moving average of $3.67.

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

Analyst Ratings Changes

Separately, Weiss Ratings restated 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 currently 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.