Greenwave Technology Solutions (NASDAQ:GWAV) Trading Down 2.5% – Should You Sell?

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) shares traded down 2.5% on Monday . The company traded as low as $3.81 and last traded at $3.89. 8,839 shares were traded during mid-day trading, a decline of 6% from the average session volume of 9,443 shares. The stock had previously closed at $3.99.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GWAV shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Greenwave Technology Solutions in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Greenwave Technology Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Greenwave Technology Solutions Stock Down 2.5%

The stock has a fifty day moving average price of $3.74 and a two-hundred day moving average price of $5.39. The company has a market cap of $3.23 million, a price-to-earnings ratio of -0.11 and a beta of 0.05. The company has a quick ratio of 0.20, a current ratio of 0.34 and a debt-to-equity ratio of 0.19.

Greenwave Technology Solutions (NASDAQ:GWAV) last released its quarterly earnings results on Friday, March 6th. The company reported ($8.89) EPS for the quarter. Greenwave Technology Solutions had a negative net margin of 84.30% and a negative return on equity of 89.17%. The business had revenue of $12.68 million during the quarter.

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 stake in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) in the 2nd quarter, according to its most recent 13F filing 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 approximately 0.24% of Greenwave Technology Solutions at the end of the most recent quarter. 15.64% of the stock is currently owned by hedge funds and other institutional investors.

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.