LADENBURG THALM/SH SH Initiates Coverage on Eco Wave Power Global AB (publ) (NASDAQ:WAVE)

Investment analysts at LADENBURG THALM/SH SH began coverage on shares of Eco Wave Power Global AB (publ) (NASDAQ:WAVE) in a research report issued on Thursday, FinViz reports. The brokerage set a “buy” rating and a $10.00 price target on the stock. LADENBURG THALM/SH SH’s price objective points to a potential upside of 72.41% from the stock’s current price.

Several other research analysts have also issued reports on the company. Alliance Global Partners upgraded Eco Wave Power Global AB (publ) to a “strong-buy” rating in a report on Friday, August 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a report on Friday, July 17th. Finally, Wall Street Zen raised Eco Wave Power Global AB (publ) to a “hold” rating in a research report on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

Eco Wave Power Global AB (publ) Stock Performance

Shares of NASDAQ WAVE traded down $0.20 during trading on Thursday, hitting $5.80. 6,146 shares of the company traded hands, compared to its average volume of 33,645. The firm has a market capitalization of $32.19 million, a price-to-earnings ratio of -9.67 and a beta of -0.37. The business’s fifty day moving average is $6.55 and its 200 day moving average is $7.39. Eco Wave Power Global AB has a fifty-two week low of $4.52 and a fifty-two week high of $10.87.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last issued its earnings results on Tuesday, August 11th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.02.

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. Connective Capital Management LLC purchased a new stake in shares of Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 32,234 shares of the company’s stock, valued at approximately $292,000. Connective Capital Management LLC owned about 0.58% of Eco Wave Power Global AB (publ) as of its most recent filing with the SEC. Hedge funds and other institutional investors own 0.57% of the company’s stock.

Eco Wave Power Global AB (publ) Company Profile

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 wave-energy conversion technology is intended for installation on existing marine structures, such as breakwaters, piers and seawalls, rather than requiring offshore construction of large standalone facilities.

The company’s system uses floating units that rise and fall with wave movement. This motion is transferred to land-based equipment, where hydraulic mechanisms drive generators to produce electricity.