Opaleye Management Inc. Lowers Position in Sanuwave Health Inc. $SNWV

Opaleye Management Inc. trimmed its position in shares of Sanuwave Health Inc. (NASDAQ:SNWV) by 68.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,140 shares of the company’s stock after selling 675,127 shares during the quarter. Opaleye Management Inc. owned approximately 3.56% of Sanuwave Health worth $3,061,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. AWM Investment Company Inc. acquired a new stake in Sanuwave Health during the second quarter valued at $4,546,000. Solas Capital Management LLC boosted its stake in shares of Sanuwave Health by 112.5% during the 2nd quarter. Solas Capital Management LLC now owns 610,968 shares of the company’s stock worth $6,110,000 after acquiring an additional 323,454 shares in the last quarter. Praetorian PR LLC boosted its stake in shares of Sanuwave Health by 1,436.2% during the 4th quarter. Praetorian PR LLC now owns 265,000 shares of the company’s stock worth $7,908,000 after acquiring an additional 247,750 shares in the last quarter. Stifel Financial Corp acquired a new stake in shares of Sanuwave Health during the 4th quarter valued at about $5,291,000. Finally, BlackRock Inc. purchased a new position in shares of Sanuwave Health in the 2nd quarter valued at about $1,599,000. 42.53% of the stock is owned by hedge funds and other institutional investors.

Sanuwave Health Stock Performance

SNWV opened at $4.00 on Friday. The firm’s fifty day simple moving average is $6.29 and its two-hundred day simple moving average is $13.36. Sanuwave Health Inc. has a 52-week low of $3.92 and a 52-week high of $40.87. The company has a market cap of $34.40 million, a price-to-earnings ratio of 16.67 and a beta of 1.47. The company has a quick ratio of 0.89, a current ratio of 1.28 and a debt-to-equity ratio of 4.87.

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

Analyst Ratings Changes

Separately, Weiss Ratings cut Sanuwave Health from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 27th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $47.00.

About Sanuwave Health

Sanuwave Health, Inc is a medical technology company specializing in the development and commercialization of non-invasive acoustic wave therapies designed to stimulate tissue regeneration and accelerate healing. The company’s proprietary Extracorporeal Pulse Activated Technology (EPAT) delivers focused acoustic pressure waves to injured or chronic wound sites, activating the body’s natural repair mechanisms. Sanuwave’s primary therapeutic areas include advanced wound care for diabetic and venous ulcers, as well as orthopedic and musculoskeletal conditions.

The company’s lead product, the dermaPACE® system, holds clearance from the U.S.