Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Trading Down 1.9% – What’s Next?

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE)’s share price fell 1.9% during trading on Monday . The stock traded as low as $5.61 and last traded at $5.61. 13,150 shares traded hands during trading, an increase of 15% from the average session volume of 11,386 shares. The stock had previously closed at $5.72.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WAVE. Wall Street Zen lowered Eco Wave Power Global AB (publ) from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $14.50.

Eco Wave Power Global AB (publ) Stock Performance

The business has a 50-day moving average of $7.02 and a 200 day moving average of $7.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.80 and a quick ratio of 2.80. The company has a market cap of $31.14 million, a PE ratio of -9.35 and a beta of -0.47.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). The business had revenue of $0.20 million during the quarter, compared to analyst estimates of $0.20 million.

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.