Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Stock Rating Upgraded by Wall Street Zen

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) was upgraded by analysts at Wall Street Zen to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Eco Wave Power Global AB (publ) Stock Down 1.4%

WAVE stock opened at $7.82 on Friday. The firm has a market cap of $43.40 million, a price-to-earnings ratio of -11.50 and a beta of -0.38. The company’s fifty day simple moving average is $8.72 and its 200 day simple moving average is $6.97. Eco Wave Power Global AB has a 12-month low of $4.52 and a 12-month high of $10.87.

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

Institutional Investors Weigh In On Eco Wave Power Global AB (publ)

A hedge fund recently bought a new position in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC purchased a new stake in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 13,361 shares of the company’s stock, valued at approximately $78,000. SmartHarvest Portfolios LLC owned approximately 0.24% of Eco Wave Power Global AB (publ) at the end of the most recent quarter. 0.57% of the stock is owned by institutional investors and hedge funds.

About Eco Wave Power Global AB (publ)

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.