Greenwave Technology Solutions (NASDAQ:GWAV) Announces Quarterly Earnings Results

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

Greenwave Technology Solutions Price Performance

Shares of NASDAQ:GWAV traded up $0.12 during trading hours on Friday, hitting $4.02. 12,198 shares of the company’s stock traded hands, compared to its average volume of 24,608. Greenwave Technology Solutions has a 52 week low of $3.29 and a 52 week high of $36.30. The company has a market cap of $3.34 million, a price-to-earnings ratio of -0.07 and a beta of -0.04. The company’s fifty day simple moving average is $4.54 and its two-hundred day simple moving average is $6.30. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.45 and a current ratio of 0.51.

Hedge Funds Weigh In On Greenwave Technology Solutions

A hedge fund recently bought a new stake in Greenwave Technology Solutions stock. XTX Topco Ltd acquired a new stake in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 147,373 shares of the company’s stock, valued at approximately $28,000. XTX Topco Ltd owned 0.24% of Greenwave Technology Solutions at the end of the most recent quarter. Hedge funds and other institutional investors own 15.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings reiterated 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 report on Saturday, February 7th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently 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.