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

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) released its quarterly earnings results on Tuesday. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02, Zacks reports.

Eco Wave Power Global AB (publ) Stock Performance

Eco Wave Power Global AB (publ) stock opened at $7.12 on Tuesday. The stock has a market capitalization of $39.52 million, a price-to-earnings ratio of -10.47 and a beta of -0.35. Eco Wave Power Global AB has a 52-week low of $4.52 and a 52-week high of $10.87. The stock’s 50 day moving average price is $8.36 and its two-hundred day moving average price is $7.09.

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

An institutional investor recently bought a new stake in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC acquired a new stake 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 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,361 shares of the company’s stock, valued at approximately $78,000. SmartHarvest Portfolios LLC owned approximately 0.24% of Eco Wave Power Global AB (publ) as of its most recent SEC filing. 0.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WAVE. Weiss Ratings reissued a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research note on Friday, July 17th. Wall Street Zen upgraded Eco Wave Power Global AB (publ) to a “hold” rating in a research report on Saturday, July 25th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

About Eco Wave Power Global AB (publ)

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.