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

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 43,002 shares, an increase of 88.9% from the September 15th total of 22,763 shares. Currently, 5.4% of the company’s stock are short sold. Based on an average daily volume of 88,299 shares, the days-to-cover ratio is presently 0.5 days.

Insider Buying and Selling at Greenwave Technology Solutions

In other Greenwave Technology Solutions news, CEO Danny Meeks bought 2,152,853 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was acquired at an average price of $3.72 per share, with a total value of $8,008,613.16. Following the completion of the purchase, the chief executive officer owned 2,188,354 shares of the company’s stock, valued at approximately $8,140,676.88. This trade represents a 6,064.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Greenwave Technology Solutions Stock Performance

Shares of GWAV traded up $0.04 during mid-day trading on Friday, hitting $2.48. 2,352 shares of the company traded hands, compared to its average volume of 87,924. The stock has a market cap of $2.06 million, a price-to-earnings ratio of -0.11 and a beta of 0.24. The stock has a 50-day moving average price of $3.50 and a two-hundred day moving average price of $3.46. Greenwave Technology Solutions has a 1 year low of $2.19 and a 1 year high of $9.99. 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 (NASDAQ:GWAV) last issued its earnings results on Tuesday, August 18th. The company reported ($3.91) earnings per share (EPS) for the quarter. The company had revenue of $16.00 million during the quarter. Greenwave Technology Solutions had a negative return on equity of 64.32% and a negative net margin of 27.67%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Greenwave Technology Solutions in a research note on Thursday. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Greenwave Technology Solutions Company Profile

Greenwave Technology Solutions, Inc is a scrap-metal recycling company that operates through its subsidiary, Empire Services, Inc The company collects, processes and sells recycled ferrous and nonferrous metals, including materials recovered from automobiles, appliances, industrial equipment, construction debris and other discarded products.

Greenwave operates metal-processing and recycling facilities primarily in Virginia and North Carolina. Its operations generally include purchasing or collecting scrap, sorting and preparing materials, and selling processed metals to steel mills, foundries, manufacturers and other industrial customers.