Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Releases Earnings Results, Beats Estimates By $0.02 EPS

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) issued its quarterly earnings results on Tuesday. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02, Zacks reports.

Eco Wave Power Global AB (publ) Stock Performance

Shares of Eco Wave Power Global AB (publ) stock traded down $0.01 during trading on Thursday, hitting $7.22. 5,144 shares of the stock traded hands, compared to its average volume of 37,356. The stock has a market cap of $40.10 million, a P/E ratio of -12.04 and a beta of -0.35. The company has a fifty day moving average price of $8.25 and a two-hundred day moving average price of $7.11. Eco Wave Power Global AB has a twelve month low of $4.52 and a twelve month high of $10.87.

Hedge Funds 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 bought a new stake in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,361 shares of the company’s stock, valued at approximately $78,000. SmartHarvest Portfolios LLC owned about 0.24% of Eco Wave Power Global AB (publ) as of its most recent SEC filing. Hedge funds and other institutional investors own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on WAVE shares. Weiss Ratings restated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a report on Friday, July 17th. Wall Street Zen raised 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 Sell rating, According to data from MarketBeat.com, Eco Wave Power Global AB (publ) presently has an average rating of “Sell”.

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.