Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Now Covered by Analysts at LADENBURG THALM/SH SH

Stock analysts at LADENBURG THALM/SH SH initiated coverage on shares of Eco Wave Power Global AB (publ) (NASDAQ:WAVE) in a report issued on Thursday, FinViz reports. The firm set a “buy” rating and a $10.00 price target on the stock. LADENBURG THALM/SH SH’s price target would suggest a potential upside of 72.41% from the stock’s previous close.

Several other research firms have also issued reports on WAVE. Weiss Ratings restated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a report on Friday, July 17th. Alliance Global Partners upgraded shares of Eco Wave Power Global AB (publ) to a “strong-buy” rating in a research report on Friday, August 14th. Finally, Wall Street Zen raised shares of Eco Wave Power Global AB (publ) to a “hold” rating in a research note on Saturday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Eco Wave Power Global AB (publ) Stock Performance

Shares of NASDAQ:WAVE traded down $0.20 during mid-day trading on Thursday, reaching $5.80. 6,146 shares of the company’s stock were exchanged, compared to its average volume of 33,645. The firm has a market capitalization of $32.19 million, a price-to-earnings ratio of -9.67 and a beta of -0.37. Eco Wave Power Global AB has a twelve month low of $4.52 and a twelve month high of $10.87. The business’s fifty day moving average price is $6.55 and its 200-day moving average price is $7.39.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) 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. Connective Capital Management LLC purchased a new position in shares of Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 32,234 shares of the company’s stock, valued at approximately $292,000. Connective Capital Management LLC owned approximately 0.58% of Eco Wave Power Global AB (publ) as of its most recent filing with the SEC. 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) is a renewable-energy technology company that develops systems designed to generate electricity from ocean and sea waves. Its wave-energy conversion technology is intended for installation on existing marine structures, such as breakwaters, piers and seawalls, rather than requiring offshore construction of large standalone facilities.

The company’s system uses floating units that rise and fall with wave movement. This motion is transferred to land-based equipment, where hydraulic mechanisms drive generators to produce electricity.