Short Interest in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) Drops By 98.9%

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) saw a significant decrease in short interest in August. As of August 15th, there was short interest totaling 11,800 shares, adecreaseof98.9% from the July 31st total of 1,110,000 shares. Based on an average trading volume of 29,400 shares, the short-interest ratio is currently 0.4 days. Based on an average trading volume of 29,400 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Greenwave Technology Solutions to a “sell” rating in a report on Saturday.

Greenwave Technology Solutions Price Performance

Shares of NASDAQ GWAV opened at $6.26 on Wednesday. The stock has a fifty day simple moving average of $20.32 and a two-hundred day simple moving average of $23.28. Greenwave Technology Solutions has a 1-year low of $6.10 and a 1-year high of $119.90. The firm has a market cap of $3.57 million, a price-to-earnings ratio of 0.00 and a beta of 0.53. The company has a current ratio of 0.36, a quick ratio of 0.23 and a debt-to-equity ratio of 0.12.

Hedge Funds Weigh In On Greenwave Technology Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Greenwave Technology Solutions by 134.6% in the fourth quarter. Geode Capital Management LLC now owns 177,055 shares of the company’s stock worth $124,000 after acquiring an additional 101,579 shares during the period. Anson Funds Management LP boosted its holdings in shares of Greenwave Technology Solutions by 11,241.8% in the first quarter. Anson Funds Management LP now owns 4,843,160 shares of the company’s stock worth $1,142,000 after acquiring an additional 4,800,458 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Greenwave Technology Solutions in the second quarter worth $28,000. 15.64% of the stock is owned by institutional investors.

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.