Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Trading Down 1.2% – Time to Sell?

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE)’s stock price fell 1.2% during mid-day trading on Wednesday . The company traded as low as $8.50 and last traded at $8.96. Approximately 29,386 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 168,798 shares. The stock had previously closed at $9.07.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a report on Monday, April 20th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Eco Wave Power Global AB (publ) Trading Down 1.2%

The firm has a 50 day moving average of $8.60 and a two-hundred day moving average of $6.74. The stock has a market capitalization of $49.73 million, a PE ratio of -13.18 and a beta of -0.38.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.02.

Institutional Trading of Eco Wave Power Global AB (publ)

A hedge fund recently raised its position in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC raised its position in shares of Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) by 60.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,396 shares of the company’s stock after acquiring an additional 8,035 shares during the period. SmartHarvest Portfolios LLC owned approximately 0.37% of Eco Wave Power Global AB (publ) worth $135,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 0.57% of the company’s stock.

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.