Greenwave Technology Solutions (NASDAQ:GWAV) Posts Earnings Results

Greenwave Technology Solutions (NASDAQ:GWAV) posted its quarterly earnings data on Friday. The company reported ($8.89) earnings per share (EPS) for the quarter, Zacks reports. The company had revenue of $12.68 million for the quarter. Greenwave Technology Solutions had a negative net margin of 92.92% and a negative return on equity of 78.14%.

Greenwave Technology Solutions Stock Performance

Greenwave Technology Solutions stock traded up $0.12 during trading hours on Friday, reaching $4.02. 12,198 shares of the stock were exchanged, compared to its average volume of 24,608. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.45 and a current ratio of 0.51. Greenwave Technology Solutions has a 52-week low of $3.29 and a 52-week high of $36.30. The stock has a market cap of $3.34 million, a P/E ratio of -0.07 and a beta of -0.04. The firm’s 50 day moving average is $4.54 and its 200 day moving average is $6.30.

Institutional Investors Weigh In On Greenwave Technology Solutions

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on GWAV. Weiss Ratings restated a “sell (e+)” rating on shares of Greenwave Technology Solutions in a report on Thursday, January 22nd. Wall Street Zen raised shares of Greenwave Technology Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Greenwave Technology Solutions has an average rating of “Sell”.

Greenwave Technology Solutions Company Profile

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.