Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Stock Price Down 1.9% – Here’s What Happened

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE)’s stock price fell 1.9% on Monday . The company traded as low as $5.61 and last traded at $5.61. 13,150 shares were traded during mid-day trading, an increase of 15% from the average session volume of 11,386 shares. The stock had previously closed at $5.72.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Eco Wave Power Global AB (publ) from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Eco Wave Power Global AB (publ) has an average rating of “Hold” and an average price target of $14.50.

Eco Wave Power Global AB (publ) Stock Performance

The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $31.14 million, a P/E ratio of -9.35 and a beta of -0.47. The business’s 50 day simple moving average is $7.02 and its two-hundred day simple moving average is $7.46.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). The firm had revenue of $0.20 million for the quarter, compared to analysts’ expectations of $0.20 million.

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.