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

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) released its earnings results on Tuesday. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02, Zacks reports.

Eco Wave Power Global AB (publ) Stock Up 2.6%

Shares of WAVE opened at $7.12 on Tuesday. Eco Wave Power Global AB has a 12-month low of $4.52 and a 12-month high of $10.87. The business has a 50-day simple moving average of $8.36 and a two-hundred day simple moving average of $7.09. The stock has a market cap of $39.52 million, a PE ratio of -10.47 and a beta of -0.35.

Analysts Set New Price Targets

WAVE has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Eco Wave Power Global AB (publ) to a “hold” rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Trading of Eco Wave Power Global AB (publ)

A hedge fund recently bought a new position in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC acquired a new stake in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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. 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.