Greenwave Technology Solutions (NASDAQ:GWAV) Stock Price Down 7.1% – Should You Sell?

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) dropped 7.1% on Monday . The stock traded as low as $0.25 and last traded at $0.27. Approximately 2,936,497 shares were traded during trading, a decline of 39% from the average daily volume of 4,816,241 shares. The stock had previously closed at $0.29.

Greenwave Technology Solutions Stock Performance

The stock has a market cap of $10.54 million, a P/E ratio of 0.00 and a beta of 1.32. The firm has a 50 day moving average of $0.34 and a two-hundred day moving average of $0.43. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.36 and a current ratio of 1.52.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Greenwave Technology Solutions stock. Geode Capital Management LLC increased its position in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) by 134.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 177,055 shares of the company’s stock after purchasing 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 reporting period. 15.64% of the stock is currently owned by institutional investors and hedge funds.

Greenwave Technology Solutions Company Profile

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.