Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Shares Down 2.5% – Should You Sell?

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) shares traded down 2.5% during mid-day trading on Tuesday . The stock traded as low as $5.74 and last traded at $5.74. Approximately 59,708 shares changed hands during trading, an increase of 427% from the average session volume of 11,331 shares. The stock had previously closed at $5.89.

Analyst Ratings Changes

A number of research firms recently weighed in on WAVE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a report on Friday, July 17th. Wall Street Zen raised shares of Eco Wave Power Global AB (publ) to a “hold” rating in a research note on Saturday, July 25th. Finally, Alliance Global Partners upgraded shares of Eco Wave Power Global AB (publ) to a “strong-buy” rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Eco Wave Power Global AB (publ) presently has an average rating of “Moderate Buy”.

Eco Wave Power Global AB (publ) Trading Up 3.5%

The stock has a market capitalization of $31.58 million, a price-to-earnings ratio of -9.48 and a beta of -0.37. The firm has a 50-day moving average of $7.46 and a 200 day moving average of $7.32.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02.

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

A hedge fund recently bought a new position in Eco Wave Power Global AB (publ) stock. Connective Capital Management LLC purchased a new position in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 32,234 shares of the company’s stock, valued at approximately $292,000. Connective Capital Management LLC owned 0.58% of Eco Wave Power Global AB (publ) at the end of the most recent quarter. Institutional investors and hedge funds own 0.57% of the company’s stock.

About Eco Wave Power Global AB (publ)

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.