Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Shares Down 7.5% – Time to Sell?

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE)’s stock price dropped 7.5% during trading on Tuesday . The company traded as low as $7.53 and last traded at $8.46. Approximately 51,058 shares traded hands during mid-day trading, an increase of 126% from the average daily volume of 22,546 shares. The stock had previously closed at $9.15.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Eco Wave Power Global AB (publ) from a “sell” rating to a “hold” rating in a research report on Saturday, June 14th.

Eco Wave Power Global AB (publ) Trading Down 7.5%

The business has a 50-day moving average of $6.46 and a 200-day moving average of $7.10. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.74 and a current ratio of 3.74. The stock has a market capitalization of $46.95 million, a price-to-earnings ratio of -21.69 and a beta of -0.51.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Eco Wave Power Global AB (publ) stock. Commonwealth Equity Services LLC acquired a new position in shares of Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 30,000 shares of the company’s stock, valued at approximately $330,000. Commonwealth Equity Services LLC owned about 0.54% of Eco Wave Power Global AB (publ) as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 0.57% of the company’s stock.

Eco Wave Power Global AB (publ) Company Profile

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.