Sanuwave Health (NASDAQ:SNWV) Stock Price Up 4.3% – Here’s What Happened

Sanuwave Health Inc. (NASDAQ:SNWV)’s stock price was up 4.3% during trading on Friday. The company traded as high as $4.84 and last traded at $4.82. 20,519 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 58,059 shares. The stock had previously closed at $4.62.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Sanuwave Health from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, September 18th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Sanuwave Health has a consensus rating of “Reduce” and a consensus target price of $47.00.

Sanuwave Health Stock Performance

The company has a quick ratio of 0.89, a current ratio of 1.28 and a debt-to-equity ratio of 4.87. The business has a 50 day moving average price of $4.95 and a 200 day moving average price of $11.33. The stock has a market cap of $41.45 million, a P/E ratio of 20.08 and a beta of 1.42.

Sanuwave Health (NASDAQ:SNWV) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.05). The business had revenue of $9.74 million during the quarter, compared to the consensus estimate of $11.50 million. Sanuwave Health had a net margin of 32.38% and a return on equity of 1,728.10%.

Hedge Funds Weigh In On Sanuwave Health

Hedge funds and other institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC bought a new position in Sanuwave Health during the 2nd quarter worth about $182,000. Bank of America Corp DE bought a new stake in Sanuwave Health during the 2nd quarter valued at $186,000. BlackRock Inc. bought a new position in shares of Sanuwave Health in the 2nd quarter worth $1,599,000. AWM Investment Company Inc. purchased a new stake in shares of Sanuwave Health during the 2nd quarter worth $4,546,000. Finally, Solas Capital Management LLC grew its stake in Sanuwave Health by 112.5% in the second quarter. Solas Capital Management LLC now owns 610,968 shares of the company’s stock valued at $6,110,000 after purchasing an additional 323,454 shares during the last quarter. Institutional investors own 42.53% of the company’s stock.

Sanuwave Health Company Profile

SANUWAVE Health, Inc is a medical technology company focused on regenerative medicine and noninvasive treatments designed to support tissue repair and wound healing. The company’s activities center on developing and commercializing therapies for chronic and difficult-to-heal wounds.

SANUWAVE’s primary product is the dermaPACE System, which uses extracorporeal shock wave technology to deliver acoustic energy to targeted tissue. The system is intended to stimulate biological processes associated with healing and has been developed for applications including diabetic foot ulcers and other chronic wounds.

The company has pursued regulatory approvals and commercial opportunities in the United States and international markets.