Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Stock Rating Upgraded by Wall Street Zen

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) was upgraded by investment analysts at Wall Street Zen to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Eco Wave Power Global AB (publ) Trading Down 1.4%

Eco Wave Power Global AB (publ) stock opened at $7.82 on Friday. The stock has a 50-day moving average price of $8.72 and a two-hundred day moving average price of $6.97. Eco Wave Power Global AB has a 12 month low of $4.52 and a 12 month high of $10.87. The company has a market capitalization of $43.40 million, a PE ratio of -11.50 and a beta of -0.38.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.02.

Hedge Funds Weigh In On Eco Wave Power Global AB (publ)

A hedge fund recently bought a new stake in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC acquired a new position in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,361 shares of the company’s stock, valued at approximately $78,000. SmartHarvest Portfolios LLC owned 0.24% of Eco Wave Power Global AB (publ) at the end of the most recent reporting period. 0.57% of the stock is currently owned by hedge funds and other institutional investors.

Eco Wave Power Global AB (publ) Company Profile

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.