Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Releases Earnings Results, Beats Expectations By $0.16 EPS

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) released its earnings results on Tuesday. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.16, FiscalAI reports.

Eco Wave Power Global AB (publ) Price Performance

NASDAQ WAVE opened at $4.67 on Wednesday. The business has a fifty day moving average price of $5.63 and a two-hundred day moving average price of $6.69. Eco Wave Power Global AB has a fifty-two week low of $3.97 and a fifty-two week high of $10.87. The stock has a market capitalization of $25.92 million, a PE ratio of -7.78 and a beta of -0.39.

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. GAMMA Investing LLC purchased a new position in shares of Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,067 shares of the company’s stock, valued at approximately $42,000. GAMMA Investing LLC owned approximately 0.13% of Eco Wave Power Global AB (publ) as of its most recent filing with the SEC. Institutional investors own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on WAVE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research note on Thursday, October 15th. 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. Wall Street Zen upgraded shares of Eco Wave Power Global AB (publ) to a “hold” rating in a research note on Saturday, July 25th. Finally, LADENBURG THALM/SH SH started coverage on shares of Eco Wave Power Global AB (publ) in a research note on Thursday, October 1st. They set a “buy” rating and a $10.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

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 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.