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

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

Eco Wave Power Global AB (publ) Stock Down 3.0%

NASDAQ WAVE traded down $0.21 during midday trading on Tuesday, hitting $7.03. The company had a trading volume of 1,818 shares, compared to its average volume of 37,603. The firm has a fifty day simple moving average of $8.36 and a two-hundred day simple moving average of $7.09. Eco Wave Power Global AB has a fifty-two week low of $4.52 and a fifty-two week high of $10.87. The stock has a market cap of $38.99 million, a price-to-earnings ratio of -10.33 and a beta of -0.35.

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

Wall Street Analyst Weigh In

WAVE has been the topic of a number of analyst reports. Wall Street Zen raised Eco Wave Power Global AB (publ) to a “hold” rating in a report on Saturday, July 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Eco Wave Power Global AB (publ) presently has a consensus 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.