Solas Capital Management LLC Takes $6.11 Million Position in Sanuwave Health Inc. $SNWV

Solas Capital Management LLC purchased a new position in Sanuwave Health Inc. (NASDAQ:SNWV) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 610,968 shares of the company’s stock, valued at approximately $6,110,000. Sanuwave Health makes up 3.3% of Solas Capital Management LLC’s investment portfolio, making the stock its 13th biggest position. Solas Capital Management LLC owned approximately 0.07% of Sanuwave Health as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Praetorian PR LLC increased its position in shares of Sanuwave Health by 1,436.2% in the fourth quarter. Praetorian PR LLC now owns 265,000 shares of the company’s stock worth $7,908,000 after acquiring an additional 247,750 shares in the last quarter. Stifel Financial Corp purchased a new stake in shares of Sanuwave Health in the 4th quarter valued at approximately $5,291,000. BlackRock Inc. acquired a new position in Sanuwave Health in the 2nd quarter worth approximately $1,599,000. Geode Capital Management LLC acquired a new position in Sanuwave Health in the 2nd quarter worth approximately $5,184,000. Finally, Lazard Asset Management LLC purchased a new position in Sanuwave Health during the 2nd quarter worth approximately $738,000. 42.53% of the stock is owned by hedge funds and other institutional investors.

Sanuwave Health Trading Up 2.4%

Shares of NASDAQ SNWV opened at $4.72 on Tuesday. The stock has a market cap of $40.59 million, a price-to-earnings ratio of 19.67 and a beta of 1.48. The business has a 50 day simple moving average of $7.51 and a 200 day simple moving average of $15.24. Sanuwave Health Inc. has a 52 week low of $4.50 and a 52 week high of $45.13. The company has a debt-to-equity ratio of 4.87, a quick ratio of 0.89 and a current ratio of 1.28.

Sanuwave Health (NASDAQ:SNWV) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.05). The business had revenue of $9.74 million during the quarter, compared to analyst estimates of $11.50 million. Sanuwave Health had a net margin of 32.38% and a return on equity of 1,728.10%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Sanuwave Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.00.

About Sanuwave Health

Sanuwave Health, Inc is a medical technology company specializing in the development and commercialization of non-invasive acoustic wave therapies designed to stimulate tissue regeneration and accelerate healing. The company’s proprietary Extracorporeal Pulse Activated Technology (EPAT) delivers focused acoustic pressure waves to injured or chronic wound sites, activating the body’s natural repair mechanisms. Sanuwave’s primary therapeutic areas include advanced wound care for diabetic and venous ulcers, as well as orthopedic and musculoskeletal conditions.

The company’s lead product, the dermaPACE® system, holds clearance from the U.S.