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

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) issued its earnings results on Thursday. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02, Zacks reports.

Eco Wave Power Global AB (publ) Stock Performance

WAVE opened at $7.99 on Friday. Eco Wave Power Global AB has a one year low of $4.41 and a one year high of $9.87. The stock has a market capitalization of $46.64 million, a PE ratio of -11.74 and a beta of -0.46. The business’s 50 day moving average price is $6.27 and its 200 day moving average price is $6.28.

Institutional Investors 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 bought a new stake in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 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.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a report on Monday, April 20th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Eco Wave Power Global AB (publ) currently 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.