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 growth in short interest in 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. Approximately 5.1% of the shares of the company are short sold. Based on an average daily trading volume, of 13,880,000 shares, the short-interest ratio is presently 0.2 days.

Greenwave Technology Solutions Stock Up 2.0 %

Shares of NASDAQ:GWAV opened at $0.26 on Friday. Greenwave Technology Solutions has a 52 week low of $0.24 and a 52 week high of $117.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.36 and a current ratio of 1.52. The company’s fifty day moving average is $0.46 and its 200-day moving average is $0.46. The company has a market capitalization of $10.32 million, a PE ratio of 0.00 and a beta of 1.32.

Insiders Place Their Bets

In other news, CEO Danny Meeks bought 377,002 shares of Greenwave Technology Solutions stock in a transaction dated Wednesday, December 4th. The shares were bought at an average price of $0.66 per share, for a total transaction of $248,821.32. Following the purchase, the chief executive officer now owns 2,122,695 shares of the company’s stock, valued at approximately $1,400,978.70. This trade represents a 21.60 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jason T. Adelman bought 100,000 shares of Greenwave Technology Solutions stock in a transaction dated Wednesday, December 4th. The stock was purchased at an average price of $0.66 per share, for a total transaction of $66,000.00. Following the purchase, the director now directly owns 400,000 shares in the company, valued at $264,000. This represents a 33.33 % increase in their position. The disclosure for this purchase can be found here. Corporate 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 lifted its holdings in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) by 134.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 177,055 shares of the company’s stock after buying an additional 101,579 shares during the quarter. Geode Capital Management LLC owned about 0.79% of Greenwave Technology Solutions worth $124,000 at the end of the most recent quarter. 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.