Greenwave Technology Solutions (NASDAQ:GWAV) Stock Price Down 3.9% – Here’s What Happened

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV)’s share price traded down 3.9% during mid-day trading on Wednesday . The stock traded as low as $0.68 and last traded at $0.70. 3,080,041 shares traded hands during trading, a decline of 21% from the average session volume of 3,923,432 shares. The stock had previously closed at $0.73.

Greenwave Technology Solutions Stock Down 3.9 %

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 firm has a 50 day simple moving average of $0.51 and a 200-day simple moving average of $0.74. The stock has a market capitalization of $15.73 million, a price-to-earnings ratio of -0.01 and a beta of 1.66.

Insider Buying and Selling

In other Greenwave Technology Solutions news, CEO Danny Meeks purchased 377,002 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were acquired at an average cost of $0.66 per share, for a total transaction of $248,821.32. Following the transaction, the chief executive officer now directly owns 2,122,695 shares in the company, valued at approximately $1,400,978.70. The trade was a 21.60 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Jason T. Adelman acquired 100,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was acquired at an average price of $0.66 per share, with a total value of $66,000.00. Following the transaction, the director now owns 400,000 shares in the company, valued at approximately $264,000. The trade was a 33.33 % increase in their position. The disclosure for this purchase can be found here. 7.93% of the stock is currently owned by corporate insiders.

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.