Wall Street Zen Downgrades Sanuwave Health (NASDAQ:SNWV) to Hold

Sanuwave Health (NASDAQ:SNWV) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sanuwave Health in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Sanuwave Health Stock Performance

NASDAQ:SNWV opened at $18.61 on Friday. The stock has a 50-day simple moving average of $24.03 and a 200 day simple moving average of $29.43. Sanuwave Health has a 52-week low of $16.72 and a 52-week high of $46.58. The company has a market cap of $159.67 million, a PE ratio of -116.31 and a beta of 1.32.

Sanuwave Health (NASDAQ:SNWV) last released its earnings results on Thursday, March 26th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.14). Sanuwave Health had a net margin of 26.64% and a negative return on equity of 101.26%. The firm had revenue of $13.09 million during the quarter, compared to the consensus estimate of $13.23 million.

Institutional Trading of Sanuwave Health

Hedge funds and other institutional investors have recently modified their holdings of the stock. Praetorian PR LLC raised its holdings in Sanuwave Health by 1,436.2% during 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 bought a new position in Sanuwave Health in the fourth quarter valued at approximately $5,291,000. Geode Capital Management LLC acquired a new position in shares of Sanuwave Health during the 2nd quarter worth approximately $5,184,000. CenterBook Partners LP increased its position in shares of Sanuwave Health by 528.7% during the 3rd quarter. CenterBook Partners LP now owns 87,947 shares of the company’s stock worth $3,296,000 after purchasing an additional 73,959 shares during the last quarter. Finally, Stonebridge Wealth Management LLC bought a new stake in shares of Sanuwave Health during the 2nd quarter worth approximately $1,696,000. Institutional investors and hedge funds own 42.53% of the company’s stock.

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.