Greenwave Technology Solutions (NASDAQ:GWAV) Reaches New 1-Year Low - Here's Why

Key Points

• Greenwave Technology Solutions shares reached a new 52-week low of $7.55, last trading at $8.56, indicating significant volatility and a trend of declining stock prices.
• The company has a market cap of $625.07 million and a PE ratio of -0.12, reflecting the challenges it faces in profitability.
• Recent moves by institutional investors included a 134.6% increase in holdings by Geode Capital Management and an unprecedented 11,241.8% increase by Anson Funds Management, showcasing a significant interest in the company despite its stock decline.

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV - Get Free Report) hit a new 52-week low on Monday . The company traded as low as $7.55 and last traded at $8.56, with a volume of 93631 shares. The stock had previously closed at $8.58.

Greenwave Technology Solutions Price Performance

The company has a quick ratio of 0.23, a current ratio of 0.36 and a debt-to-equity ratio of 0.12. The firm has a market cap of $4.06 million, a P/E ratio of 0.00 and a beta of 0.46. The business's 50 day moving average is $21.15 and its two-hundred day moving average is $24.06.

Institutional Investors Weigh In On Greenwave Technology Solutions

A number of large investors have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new stake in Greenwave Technology Solutions in the second quarter worth $28,000. Anson Funds Management LP grew its holdings in Greenwave Technology Solutions by 11,241.8% in the first quarter. Anson Funds Management LP now owns 4,843,160 shares of the company's stock worth $1,142,000 after purchasing an additional 4,800,458 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Greenwave Technology Solutions by 134.6% during the fourth quarter. Geode Capital Management LLC now owns 177,055 shares of the company's stock valued at $124,000 after buying an additional 101,579 shares during the last quarter. 15.64% of the stock is currently owned by institutional investors and hedge funds.

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.