Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Stock Price Down 1.2% – Here’s What Happened

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

Wall Street Analyst Weigh In

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, the stock currently has a consensus rating of “Sell”.

Eco Wave Power Global AB (publ) Trading Up 0.2%

The firm has a market cap of $49.50 million, a P/E ratio of -13.12 and a beta of -0.38. The stock has a 50 day simple moving average of $8.63 and a 200-day simple moving average of $6.76.

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

Institutional Investors Weigh In On 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 position in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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) as of its most recent SEC filing. Institutional investors and hedge funds own 0.57% of the company’s stock.

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.