Greenwave Technology Solutions (NASDAQ:GWAV) Stock Price Down 3.9% – Should You Sell?

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

Greenwave Technology Solutions Stock Performance

The company has a current ratio of 1.52, a quick ratio of 1.36 and a debt-to-equity ratio of 0.09. The stock has a market cap of $16.12 million, a PE ratio of -0.01 and a beta of 1.66. The business’s 50-day moving average price is $0.52 and its 200-day moving average price is $0.74.

Insider Buying and Selling

In related news, Director Jason T. Adelman purchased 100,000 shares of Greenwave Technology Solutions stock in a transaction that occurred on Wednesday, December 4th. The stock was bought at an average cost of $0.66 per share, for a total transaction of $66,000.00. Following the completion of the transaction, the director now owns 400,000 shares in the company, valued at $264,000. The trade was a 33.33 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Danny Meeks acquired 377,002 shares of the stock in a transaction on Wednesday, December 4th. The stock was bought at an average price of $0.66 per share, for a total transaction of $248,821.32. Following the transaction, the chief executive officer now owns 2,122,695 shares in the company, valued at approximately $1,400,978.70. This represents a 21.60 % increase in their position. The disclosure for this purchase can be found here. 7.93% of the stock is owned by company 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.