Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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

Eco Wave Power Global AB (publ) Stock Performance

Shares of WAVE stock opened at $7.11 on Wednesday. Eco Wave Power Global AB has a fifty-two week low of $4.52 and a fifty-two week high of $10.87. The firm has a market cap of $39.44 million, a P/E ratio of -10.45 and a beta of -0.35. The business’s 50 day moving average price is $8.30 and its 200-day moving average price is $7.10.

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. SmartHarvest Portfolios LLC acquired a new position in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 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) at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.