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

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) issued its quarterly earnings data on Tuesday. The company reported ($0.08) earnings per share for the quarter, FiscalAI reports.

Eco Wave Power Global AB (publ) Stock Performance

NASDAQ:WAVE opened at $4.50 on Tuesday. The firm’s fifty day moving average is $5.67 and its two-hundred day moving average is $6.69. The firm has a market cap of $25.00 million, a price-to-earnings ratio of -7.51 and a beta of -0.44. Eco Wave Power Global AB has a one year low of $3.97 and a one year high of $10.87.

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

An institutional investor recently bought a new position in Eco Wave Power Global AB (publ) stock. Connective Capital Management LLC bought a new position in shares of Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 32,234 shares of the company’s stock, valued at approximately $292,000. Connective Capital Management LLC owned 0.58% of Eco Wave Power Global AB (publ) as of its most recent SEC filing. Institutional investors and hedge funds own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on WAVE. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a report on Thursday, October 15th. Wall Street Zen upgraded shares of Eco Wave Power Global AB (publ) to a “hold” rating in a report on Saturday, July 25th. Alliance Global Partners raised shares of Eco Wave Power Global AB (publ) to a “strong-buy” rating in a research report on Friday, August 14th. Finally, LADENBURG THALM/SH SH assumed coverage on Eco Wave Power Global AB (publ) in a report on Thursday, October 1st. They set a “buy” rating and a $10.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.00.

About Eco Wave Power Global AB (publ)

Eco Wave Power Global AB (publ) is a renewable energy technology company that develops systems designed to generate electricity from ocean and sea waves. Its technology uses floaters installed on existing marine structures, such as breakwaters, piers and ports. The movement of the waves drives hydraulic systems that power generators, while the equipment can be raised above sea level during severe weather conditions.

Founded in 2011, the company has developed and commercialized a patented onshore wave energy conversion technology intended to reduce the infrastructure and maintenance challenges associated with offshore systems.