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

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) was the recipient of a significant increase in short interest in February. As of February 15th, there was short interest totalling 2,560,000 shares, an increase of 230.9% from the January 31st total of 773,600 shares. Approximately 5.1% of the company’s stock are sold short. Based on an average trading volume of 13,880,000 shares, the days-to-cover ratio is currently 0.2 days.

Greenwave Technology Solutions Trading Up 2.0 %

Shares of Greenwave Technology Solutions stock opened at $0.26 on Friday. The company’s fifty day simple moving average is $0.46 and its 200-day simple moving average is $0.46. The company has a market cap of $10.32 million, a price-to-earnings ratio of 0.00 and a beta of 1.32. The company has a current ratio of 1.52, a quick ratio of 1.36 and a debt-to-equity ratio of 0.09. Greenwave Technology Solutions has a 1 year low of $0.24 and a 1 year high of $117.00.

Insider Activity at Greenwave Technology Solutions

In other news, CEO Danny Meeks purchased 377,002 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were bought at an average price of $0.66 per share, with a total value of $248,821.32. Following the completion of the transaction, the chief executive officer now directly owns 2,122,695 shares in the company, valued at $1,400,978.70. This trade represents a 21.60 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jason T. Adelman acquired 100,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was bought at an average price of $0.66 per share, for a total transaction of $66,000.00. Following the purchase, the director now owns 400,000 shares of the company’s stock, valued at $264,000. The trade was a 33.33 % increase in their position. The disclosure for this purchase can be found here. Insiders own 7.93% of the company’s stock.

Institutional Investors Weigh In On Greenwave Technology Solutions

A hedge fund recently raised its stake in Greenwave Technology Solutions stock. Geode Capital Management LLC boosted its holdings in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) by 134.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,055 shares of the company’s stock after buying an additional 101,579 shares during the period. Geode Capital Management LLC owned about 0.79% of Greenwave Technology Solutions worth $124,000 as of its most recent SEC filing. Institutional investors 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.