Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Trading 10.3% Higher – Time to Buy?

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) traded up 10.3% during mid-day trading on Tuesday . The company traded as high as $8.28 and last traded at $8.28. 25,537 shares were traded during trading, a decline of 16% from the average session volume of 30,521 shares. The stock had previously closed at $7.51.

Wall Street Analyst Weigh In

WAVE has been the subject of a number of research reports. Wall Street Zen upgraded Eco Wave Power Global AB (publ) from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research note on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Eco Wave Power Global AB (publ) currently has an average rating of “Hold” and a consensus price target of $14.50.

Eco Wave Power Global AB (publ) Stock Performance

The stock has a market cap of $45.95 million, a P/E ratio of -15.33 and a beta of -0.47. The company has a fifty day moving average of $8.26 and a 200 day moving average of $7.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.38 and a quick ratio of 3.38.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last announced its earnings results on Thursday, August 14th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.11). The company had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.10 million.

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.