Greenwave Technology Solutions (NASDAQ:GWAV) Shares Down 7.1% – Here’s What Happened

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV)’s share price was down 7.1% during mid-day trading on Monday . The stock traded as low as $0.25 and last traded at $0.27. Approximately 2,936,497 shares traded hands during trading, a decline of 39% from the average daily volume of 4,816,241 shares. The stock had previously closed at $0.29.

Greenwave Technology Solutions Trading Down 8.2 %

The business has a fifty day moving average price of $0.33 and a 200 day moving average price of $0.43. The firm has a market capitalization of $10.01 million, a price-to-earnings ratio of 0.00 and a beta of 1.32. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.36 and a current ratio of 1.52.

Hedge Funds Weigh In On Greenwave Technology Solutions

An institutional investor recently raised its position in Greenwave Technology Solutions stock. Geode Capital Management LLC boosted its position in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) by 134.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,055 shares of the company’s stock after acquiring an additional 101,579 shares during the quarter. Geode Capital Management LLC owned 0.79% of Greenwave Technology Solutions worth $124,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 15.64% of the company’s stock.

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.