Wall Street Zen Downgrades Eco Wave Power Global AB (publ) (NASDAQ:WAVE) to Sell

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other brokerages also recently weighed in on WAVE. Maxim Group assumed coverage on Eco Wave Power Global AB (publ) in a report on Tuesday, March 11th. They issued a “buy” rating and a $15.00 price target for the company. Alliance Global Partners assumed coverage on shares of Eco Wave Power Global AB (publ) in a research report on Monday, February 3rd. They issued a “buy” rating and a $14.00 price objective for the company.

Eco Wave Power Global AB (publ) Trading Down 0.8%

NASDAQ:WAVE opened at $6.00 on Friday. The stock has a market capitalization of $33.29 million, a price-to-earnings ratio of -13.95 and a beta of -0.52. Eco Wave Power Global AB has a 52 week low of $2.20 and a 52 week high of $17.63. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $6.32 and a 200 day moving average of $8.55.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.03.

Institutional Investors Weigh In On Eco Wave Power Global AB (publ)

Large investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC acquired a new stake in Eco Wave Power Global AB (publ) during the 4th quarter worth about $330,000. IPG Investment Advisors LLC raised its stake in shares of Eco Wave Power Global AB (publ) by 161.3% in the fourth quarter. IPG Investment Advisors LLC now owns 30,050 shares of the company’s stock worth $331,000 after purchasing an additional 18,550 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Eco Wave Power Global AB (publ) during the fourth quarter worth about $30,000. Finally, Catalina Capital Group LLC lifted its holdings in shares of Eco Wave Power Global AB (publ) by 22.2% during the fourth quarter. Catalina Capital Group LLC now owns 23,338 shares of the company’s stock worth $257,000 after purchasing an additional 4,239 shares during the period. 0.57% of the stock is owned by hedge funds and other institutional investors.

About Eco Wave Power Global AB (publ)

Eco Wave Power Global AB (publ), a wave energy company, engages in the development of a wave energy conversion (WEC) technology that converts ocean and sea waves into clean electricity. The company also holds various agreements comprising power purchase agreements, concession agreements, and other agreements worldwide with pipeline of projects with approximately 404.7 megawatts.