Sanuwave Health (NASDAQ:SNWV) Stock Price Down 1% – Should You Sell?

Shares of Sanuwave Health Inc. (NASDAQ:SNWV) dropped 1% during mid-day trading on Wednesday . The stock traded as low as $26.10 and last traded at $26.43. Approximately 50,442 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 48,110 shares. The stock had previously closed at $26.70.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Sanuwave Health from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Roth Mkm set a $53.00 price objective on Sanuwave Health and gave the stock a “buy” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sanuwave Health in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Sanuwave Health currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Sanuwave Health Price Performance

The company’s 50-day simple moving average is $30.54 and its two-hundred day simple moving average is $33.75. The firm has a market capitalization of $226.77 million, a P/E ratio of -20.33 and a beta of 1.34.

Sanuwave Health (NASDAQ:SNWV) last released its earnings results on Thursday, November 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.14. The company had revenue of $11.45 million for the quarter.

Institutional Trading of Sanuwave Health

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Stonebridge Wealth Management LLC bought a new stake in Sanuwave Health during the second quarter valued at about $1,696,000. Evernest Financial Advisors LLC bought a new position in shares of Sanuwave Health in the second quarter worth about $823,000. Rice Hall James & Associates LLC purchased a new stake in shares of Sanuwave Health during the third quarter worth about $1,023,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Sanuwave Health during the second quarter worth about $52,000. Finally, Farther Finance Advisors LLC bought a new stake in Sanuwave Health during the 3rd quarter valued at approximately $57,000. 42.53% of the stock is owned by hedge funds and other institutional investors.

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.