Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Issues Quarterly Earnings Results

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) posted its earnings results on Thursday. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01, FiscalAI reports.

Eco Wave Power Global AB (publ) Stock Performance

Shares of NASDAQ WAVE traded down $0.57 during midday trading on Thursday, hitting $5.52. 1,290 shares of the company’s stock were exchanged, compared to its average volume of 9,933. Eco Wave Power Global AB has a twelve month low of $4.41 and a twelve month high of $9.87. The firm has a market cap of $30.64 million, a P/E ratio of -9.20 and a beta of -0.46. The stock’s 50 day moving average price is $5.33 and its 200-day moving average price is $6.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.80 and a quick ratio of 2.80.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Trading of Eco Wave Power Global AB (publ)

An institutional investor recently bought a new position in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC acquired a new stake in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 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 reporting period. Institutional investors 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.