Market cap of Greenwave Technology Solutions Inc [GWAV] reaches 2.43M – now what?

Greenwave Technology Solutions Inc [NASDAQ: GWAV] surged by $0.03 during the normal trading session on while it closed the day at $0.15. The company report on April 1, 2024 at 9:55 AM that Greenwave Technology Solutions Strengthens Balance Sheet by Approximately $14.87 Million.

Company Believes it Has Regained Compliance with Nasdaq’s Shareholder Equity Requirement.

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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 that during the first quarter of 2024, it received proceeds from warrant exercises of approximately $2.81 million, converted approximately $2.06 million of third party debt to equity, and exchanged $10 million of related-party debt into equity. As a result of the foregoing, the Company has increased its shareholder’s equity by approximately $14.87 million.

Greenwave Technology Solutions Inc stock has also gained 20.39% of its value over the past 7 days. However, GWAV stock has declined by -71.23% in the 3 months of the year. Over the past six months meanwhile, it has lost -80.00% and lost -73.98% year-on date.

The market cap for GWAV stock reached $2.43 million, with 16.56 million shares outstanding and 9.45 million shares in the current float. Compared to the average trading volume of 1.78M shares, GWAV reached a trading volume of 21928082 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 0.07, with the Price to Sales ratio for GWAV stock in the period of the last 12 months amounting to 0.07.

GWAV stock trade performance evaluation

Greenwave Technology Solutions Inc [GWAV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 20.39. With this latest performance, GWAV shares dropped by -79.29% in over the last four-week period, additionally sinking by -80.00% over the last 6 months – not to mention a drop of -85.45% 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 25.37, with the RSI for the last a single of trading hit 26.42, and the three-weeks RSI is set at 27.53 for Greenwave Technology Solutions Inc [GWAV]. The present Moving Average for the last 50 days of trading for this stock 0.6171, while it was recorded at 0.1365 for the last single week of trading, and 0.6783 for the last 200 days.

Greenwave Technology Solutions Inc [GWAV]: An insightful look at the core 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]: Institutional Ownership

The top three institutional holders of GWAV stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in GWAV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in GWAV stock with ownership which is approximately 5.8386%.