Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Announces Quarterly Earnings Results

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) released its earnings results on Thursday. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.01, FiscalAI reports.

Eco Wave Power Global AB (publ) Stock Performance

Shares of NASDAQ WAVE opened at $6.16 on Thursday. The company has a 50-day simple moving average of $5.33 and a 200-day simple moving average of $6.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.80 and a quick ratio of 2.80. The company has a market cap of $34.16 million, a PE ratio of -10.26 and a beta of -0.46. Eco Wave Power Global AB has a 12 month low of $4.41 and a 12 month high of $9.87.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Eco Wave Power Global AB (publ) currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Eco Wave Power Global AB (publ)

A hedge fund recently bought a new stake in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC purchased a new position in shares of Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,361 shares of the company’s stock, valued at approximately $78,000. SmartHarvest Portfolios LLC owned about 0.24% of Eco Wave Power Global AB (publ) as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 0.57% of the company’s stock.

Eco Wave Power Global AB (publ) Company Profile

Eco Wave Power Global AB (publ) develops and commercializes technology that harnesses the energy of ocean and sea waves to generate electricity. The company’s modular, floating wave energy converters attach to existing maritime structures such as breakwaters and piers, converting vertical wave motion into electrical power through hydraulic systems and generators. This approach is designed to minimize environmental impact while delivering a predictable renewable energy source.

Founded in 2011 by CEO Inna Braverman, Eco Wave Power has secured patent protection for its core wave energy technology and completed its first grid-connected installation in Gibraltar in 2016.