Insider Buying: Greenwave Technology Solutions (NASDAQ:GWAV) CEO Purchases $8,008,613.16 in Stock

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) CEO Danny Meeks acquired 2,152,853 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was acquired at an average price of $3.72 per share, for a total transaction of $8,008,613.16. Following the completion of the purchase, the chief executive officer directly owned 2,188,354 shares of the company’s stock, valued at $8,140,676.88. This trade represents a 6,064.20% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Greenwave Technology Solutions Price Performance

NASDAQ GWAV opened at $3.80 on Friday. Greenwave Technology Solutions, Inc. has a twelve month low of $2.39 and a twelve month high of $24.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.12 and a current ratio of 0.23. The stock has a market capitalization of $3.15 million, a PE ratio of -0.17 and a beta of 0.22. The stock has a 50-day simple moving average of $3.79 and a 200 day simple moving average of $3.67.

Greenwave Technology Solutions (NASDAQ:GWAV) last released its earnings results on Tuesday, August 18th. The company reported ($3.91) earnings per share (EPS) for the quarter. The business had revenue of $16.00 million during the quarter. Greenwave Technology Solutions had a negative net margin of 27.67% and a negative return on equity of 64.32%.

Hedge Funds Weigh In On Greenwave Technology Solutions

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

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Greenwave Technology Solutions in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

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.