Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Eco Wave Power Global AB (publ) (NASDAQ:WAVE) to a hold rating in a research report sent to investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Eco Wave Power Global AB (publ) has an average rating of “Sell”.

Eco Wave Power Global AB (publ) Price Performance

Shares of NASDAQ WAVE opened at $7.82 on Friday. The business has a 50-day moving average of $8.72 and a two-hundred day moving average of $6.97. The company has a market capitalization of $43.40 million, a price-to-earnings ratio of -11.50 and a beta of -0.38. Eco Wave Power Global AB has a 1 year low of $4.52 and a 1 year high of $10.87.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last issued its earnings results on Thursday, May 7th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.02.

Institutional Investors Weigh In On Eco Wave Power Global AB (publ)

An institutional investor recently raised its position in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC boosted its stake in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) by 60.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,396 shares of the company’s stock after acquiring an additional 8,035 shares during the period. SmartHarvest Portfolios LLC owned 0.37% of Eco Wave Power Global AB (publ) worth $135,000 as of its most recent SEC filing. 0.57% of the stock is currently owned by institutional investors and hedge funds.

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.