Short Interest in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) Declines By 85.8%

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) saw a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 77,100 shares, a decrease of 85.8% from the February 29th total of 543,200 shares. Based on an average trading volume of 1,510,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.6% of the shares of the company are sold short.

Greenwave Technology Solutions Trading Down 4.9 %

Shares of NASDAQ GWAV traded down $0.01 during midday trading on Thursday, reaching $0.12. The stock had a trading volume of 5,638,824 shares, compared to its average volume of 1,802,143. Greenwave Technology Solutions has a 12-month low of $0.12 and a 12-month high of $1.12. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.13 and a current ratio of 0.14. The stock has a 50-day moving average of $0.64 and a 200-day moving average of $0.60.

Hedge Funds Weigh In On Greenwave Technology Solutions

A hedge fund recently raised its stake in Greenwave Technology Solutions stock. Geode Capital Management LLC boosted its position in Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) by 19.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,679 shares of the company’s stock after purchasing an additional 9,123 shares during the quarter. Geode Capital Management LLC owned approximately 0.51% of Greenwave Technology Solutions worth $49,000 at the end of the most recent reporting period. 15.64% of the stock is currently 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, through its 11 metal recycling facilities, collects, classifies, and processes raw scrap ferrous and nonferrous metals for recycling iron, steel, aluminum, copper, lead, stainless steel, and zinc.