Greenwave Technology Solutions (NASDAQ:GWAV) Shares Down 3.6% – Here’s Why

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) shares dropped 3.6% on Friday . The company traded as low as $0.33 and last traded at $0.33. Approximately 4,648,328 shares changed hands during mid-day trading, a decline of 5% from the average daily volume of 4,891,737 shares. The stock had previously closed at $0.35.

Greenwave Technology Solutions Stock Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 1.52 and a quick ratio of 1.36. The stock’s 50 day simple moving average is $0.54 and its two-hundred day simple moving average is $0.48.

Insider Buying and Selling at Greenwave Technology Solutions

In other Greenwave Technology Solutions news, CEO Danny Meeks purchased 377,002 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were bought at an average cost 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 $1,400,978.70. This represents a 21.60 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jason T. Adelman purchased 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were acquired at an average price of $0.66 per share, for a total transaction of $66,000.00. Following the completion of 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 Trading of Greenwave Technology Solutions

An institutional investor recently raised its position in Greenwave Technology Solutions stock. Geode Capital Management LLC raised its stake in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) by 134.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter. 15.64% of the stock is 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.