The stock of Greenwave Technology Solutions Inc (NASDAQ: GWAV) has decreased by -2.39 when compared to last closing price of 0.70.Despite this, the company has seen a loss of -6.63% in its stock price over the last five trading days. prnewswire.com reported 2024-12-17 that Insiders made open market purchases of more than 500,000 GWAV shares in December 2024 Company has increased shareholders’ equity by approximately $51 million in 2024 Greenwave continues to prioritize government contracts as a key driver of revenue and cash flow growth The Company recently purchased the real estate for seven of its core facilities, reducing annual rent expenses by approximately $1.7 million Numerous upcoming catalysts expected to benefit Greenwave — including the opening of Nucor Corporation’s state-of-the-art Lexington, NC steelmaking facility with a staggering 430,000-ton annual processing capacity(1) CHESAPEAKE, Va., Dec. 17, 2024 /PRNewswire/ — Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) (“Greenwave” or the “Company”), a leading metal recycler in Virginia, North Carolina, and Ohio, released today the following letter to shareholders from Danny Meeks, Chairman and Chief Executive Officer: Greenwave Shareholders, I am pleased to report Greenwave will enter 2025 in the strongest strategic and financial position in the history of the Company.
Is It Worth Investing in Greenwave Technology Solutions Inc (NASDAQ: GWAV) Right Now?
Additionally, the 36-month beta value for GWAV is 1.57. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for GWAV is 17.26M and currently, short sellers hold a 19.51% ratio of that float. The average trading volume of GWAV on December 17, 2024 was 11.74M shares.
GWAV’s Market Performance
GWAV stock saw an increase of -6.63% in the past week, with a monthly gain of 100.18% and a quarterly increase of 61.56%. The volatility ratio for the week is 12.45%, and the volatility levels for the last 30 days are 21.45% for Greenwave Technology Solutions Inc (GWAV). The simple moving average for the past 20 days is 25.73% for GWAV’s stock, with a -91.38% simple moving average for the past 200 days.
GWAV Trading at 47.38% from the 50-Day Moving Average
After a stumble in the market that brought GWAV to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -99.56% of loss for the given period.
Volatility was left at 21.45%, however, over the last 30 days, the volatility rate increased by 12.45%, as shares surge +111.09% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +66.81% upper at present.
During the last 5 trading sessions, GWAV fell by -7.45%, which changed the moving average for the period of 200-days by -99.35% in comparison to the 20-day moving average, which settled at $0.5432. In addition, Greenwave Technology Solutions Inc saw -99.19% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at GWAV starting from ADELMAN JASON T, who purchase 100,000 shares at the price of $0.66 back on Dec 04 ’24. After this action, ADELMAN JASON T now owns 400,000 shares of Greenwave Technology Solutions Inc, valued at $66,000 using the latest closing price.
SICIGNANO HENRY III, the Director of Greenwave Technology Solutions Inc, purchase 100,000 shares at $0.66 during a trade that took place back on Dec 04 ’24, which means that SICIGNANO HENRY III is holding 400,000 shares at $65,900 based on the most recent closing price.
Stock Fundamentals for GWAV
Current profitability levels for the company are sitting at:
- -0.53 for the present operating margin
- 0.22 for the gross margin
The net margin for Greenwave Technology Solutions Inc stands at -0.29. The total capital return value is set at -0.32. Equity return is now at value -269.90, with -67.82 for asset returns.
Based on Greenwave Technology Solutions Inc (GWAV), the company’s capital structure generated 0.13 points at debt to capital in total, while cash flow to debt ratio is standing at -1.9. The debt to equity ratio resting at 0.14. The interest coverage ratio of the stock is -2.5.
Currently, EBITDA for the company is -10.58 million with net debt to EBITDA at -1.45. When we switch over and look at the enterprise to sales, we see a ratio of 0.26. The receivables turnover for the company is 17.9for trailing twelve months and the total asset turnover is 0.49. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.52.
Conclusion
In conclusion, Greenwave Technology Solutions Inc (GWAV) has seen mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
