Greenwave Technology Solutions Inc [GWAV] Stock trading around $0.78 per share: What’s Next?

Greenwave Technology Solutions Inc [NASDAQ: GWAV] stock went on a downward path that fall over -3.33% on Friday, amounting to a one-week price decrease of less than -10.71%. The company report on February 15, 2024 at 3:18 PM that Greenwave Technology Solutions’ Second Shredder Scheduled to Be Connected to Power Grid by April 9, 2024.

Second shredder is expected to double Greenwave’s ferrous metal processing capacity.

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Greenwave Technology Solutions, Inc. (“Greenwave” or the “Company”) (Nasdaq: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced it received notification from Dominion Energy that its second automotive shredder is scheduled to be connected to the power grid no later than April 9, 2024 and will commence operations shortly thereafter. The Company’s second automotive shredder is expected to double Greenwave’s ferrous metal processing capacity.

Over the last 12 months, GWAV stock dropped by -30.66%. The one-year Greenwave Technology Solutions Inc stock forecast points to a potential upside of 68.16. The average equity rating for GWAV stock is currently 1.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $13.00 million, with 16.56 million shares outstanding and 12.95 million shares in the current float. Compared to the average trading volume of 119.70K shares, GWAV stock reached a trading volume of 167520 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Greenwave Technology Solutions Inc [GWAV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GWAV shares is $2.45 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GWAV stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Greenwave Technology Solutions Inc is set at 0.08, with the Price to Sales ratio for GWAV stock in the period of the last 12 months amounting to 0.40.

GWAV Stock Performance Analysis:

Greenwave Technology Solutions Inc [GWAV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.71. With this latest performance, GWAV shares gained by 13.66% in over the last four-week period, additionally sinking by -23.79% over the last 6 months – not to mention a drop of -30.66% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GWAV stock in for the last two-week period is set at 47.63, with the RSI for the last a single of trading hit 40.01, and the three-weeks RSI is set at 51.45 for Greenwave Technology Solutions Inc [GWAV]. The present Moving Average for the last 50 days of trading for this stock 0.6810, while it was recorded at 0.8495 for the last single week of trading, and 0.7334 for the last 200 days.

Insight into Greenwave Technology Solutions Inc Fundamentals:

Greenwave Technology Solutions Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.13 and a Current Ratio set at 0.14.

Greenwave Technology Solutions Inc [GWAV] Institutonal Ownership Details

The top three institutional holders of GWAV stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in GWAV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GWAV stock with ownership which is approximately 5.8325%.