Greenwave Technology Solutions (NASDAQ:GWAV) Trading Up 6.6% – Should You Buy?

Shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) were up 6.6% during trading on Thursday . The stock traded as high as $0.51 and last traded at $0.44. Approximately 2,595,322 shares were traded during trading, an increase of 8% from the average daily volume of 2,405,748 shares. The stock had previously closed at $0.41.

Greenwave Technology Solutions Stock Down 3.3 %

The business has a fifty day moving average of $0.55 and a 200 day moving average of $0.61. 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 has a market capitalization of $9.54 million, a price-to-earnings ratio of -0.01 and a beta of 1.35.

Insider Buying and Selling

In related news, Director Jason T. Adelman purchased 100,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $264,000. This trade represents a 33.33 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Danny Meeks bought 377,002 shares of Greenwave Technology Solutions stock in a transaction dated Wednesday, December 4th. The stock was purchased at an average cost of $0.66 per share, with a total value of $248,821.32. Following the completion of the acquisition, 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 position. The disclosure for this purchase can be found here. 7.93% of the stock is currently owned by corporate insiders.

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.