Short Interest in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) Increases By 230.9%

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) was the target of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 2,560,000 shares, a growth of 230.9% from the January 31st total of 773,600 shares. Based on an average trading volume of 13,880,000 shares, the short-interest ratio is presently 0.2 days. Approximately 5.1% of the shares of the stock are sold short.

Greenwave Technology Solutions Stock Performance

NASDAQ GWAV opened at $0.26 on Friday. The company has a market capitalization of $10.12 million, a price-to-earnings ratio of 0.00 and a beta of 1.32. The company has a quick ratio of 1.36, a current ratio of 1.52 and a debt-to-equity ratio of 0.09. Greenwave Technology Solutions has a twelve month low of $0.25 and a twelve month high of $117.00. The stock has a fifty day simple moving average of $0.46 and a 200 day simple moving average of $0.46.

Insider Buying and Selling

In other Greenwave Technology Solutions news, CEO Danny Meeks purchased 377,002 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was purchased at an average cost of $0.66 per share, for a total transaction of $248,821.32. Following the transaction, the chief executive officer now owns 2,122,695 shares in the company, valued at $1,400,978.70. The trade was a 21.60 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jason T. Adelman purchased 100,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average price of $0.66 per share, for a total transaction of $66,000.00. Following the acquisition, the director now owns 400,000 shares of the company’s stock, valued at $264,000. This trade represents a 33.33 % increase in their position. The disclosure for this purchase can be found here. 7.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Greenwave Technology Solutions

A hedge fund recently raised its stake in Greenwave Technology Solutions stock. Geode Capital Management LLC raised its position in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) by 134.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 177,055 shares of the company’s stock after purchasing an additional 101,579 shares during the quarter. Geode Capital Management LLC owned approximately 0.79% of Greenwave Technology Solutions worth $124,000 at the end of the most recent quarter. 15.64% of the stock is currently owned by hedge funds and other institutional investors.

Greenwave Technology Solutions Company Profile

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.