Sanuwave Health (NASDAQ:SNWV) Trading Down 3.9% – Here’s What Happened

Sanuwave Health Inc. (NASDAQ:SNWV)’s share price traded down 3.9% during trading on Friday . The company traded as low as $6.30 and last traded at $6.39. Approximately 244,665 shares were traded during trading, a decline of 21% from the average daily volume of 308,877 shares. The stock had previously closed at $6.65.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SNWV shares. Wall Street Zen lowered Sanuwave Health from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Roth Capital restated a “buy” rating and set a $47.00 target price (down from $53.00) on shares of Sanuwave Health in a research report on Monday, March 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sanuwave Health in a research note on Wednesday, June 24th. Finally, Zacks Research cut Sanuwave Health from a “hold” rating to a “strong sell” rating in a research note on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

Sanuwave Health Trading Down 3.9%

The company has a market capitalization of $54.95 million, a P/E ratio of 19.36 and a beta of 1.42. The company has a debt-to-equity ratio of 8.15, a current ratio of 1.31 and a quick ratio of 0.99. The business’s 50-day moving average price is $12.88 and its two-hundred day moving average price is $19.44.

Sanuwave Health (NASDAQ:SNWV) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The firm had revenue of $9.62 million during the quarter, compared to the consensus estimate of $9.60 million. Sanuwave Health had a net margin of 35.96% and a negative return on equity of 450.56%.

Institutional Investors Weigh In On Sanuwave Health

Several large investors have recently modified their holdings of the business. Legal & General Group Plc bought a new position in shares of Sanuwave Health during the 2nd quarter valued at about $26,000. BNP Paribas Financial Markets bought a new stake in Sanuwave Health during the 2nd quarter worth approximately $46,000. Russell Investments Group Ltd. bought a new stake in Sanuwave Health during the 3rd quarter worth approximately $67,000. New York State Common Retirement Fund acquired a new stake in Sanuwave Health during the 2nd quarter worth approximately $102,000. Finally, State of Alaska Department of Revenue acquired a new stake in Sanuwave Health during the 4th quarter worth approximately $96,000. 42.53% of the stock is currently owned by institutional investors.

Sanuwave Health Company Profile

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.