Sanuwave Health (NASDAQ:SNWV) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Sanuwave Health (NASDAQ:SNWV) from a hold rating to a buy rating in a research report released on Saturday.

Separately, Roth Capital began coverage on Sanuwave Health in a report on Tuesday, July 29th. They issued a “buy” rating and a $49.00 target price on the stock.

Sanuwave Health Price Performance

Shares of SNWV stock opened at $42.74 on Friday. The business’s fifty day simple moving average is $33.83. Sanuwave Health has a 1-year low of $5.21 and a 1-year high of $46.59. The firm has a market capitalization of $366.28 million, a price-to-earnings ratio of -5.18 and a beta of 1.29.

Sanuwave Health (NASDAQ:SNWV) last posted its earnings results on Friday, August 8th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.10. The firm had revenue of $10.16 million for the quarter, compared to analysts’ expectations of $10.14 million.

Insider Buying and Selling at Sanuwave Health

In other Sanuwave Health news, insider Iulian Cioanta sold 3,639 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $31.60, for a total value of $114,992.40. Following the sale, the insider owned 41 shares of the company’s stock, valued at approximately $1,295.60. This represents a 98.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Peter Stegagno sold 1,862 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $27.71, for a total value of $51,596.02. Following the completion of the sale, the chief operating officer directly owned 2,032 shares in the company, valued at $56,306.72. This trade represents a 47.82% decrease in their position. The disclosure for this sale can be found here. 14.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sanuwave Health

Several large investors have recently added to or reduced their stakes in SNWV. Strategic Investment Solutions Inc. IL purchased a new position in Sanuwave Health during the first quarter worth about $47,000. Solas Capital Management LLC purchased a new position in Sanuwave Health during the first quarter worth about $20,658,000. AWM Investment Company Inc. purchased a new position in Sanuwave Health during the first quarter worth about $18,153,000. Goldman Sachs Group Inc. purchased a new position in Sanuwave Health during the first quarter worth about $337,000. Finally, Evernest Financial Advisors LLC purchased a new position in Sanuwave Health during the second quarter worth about $823,000. 42.53% of the stock is currently owned by hedge funds and other institutional investors.

About Sanuwave Health

SANUWAVE Health, Inc, a shock wave technology company, researches, develops, and commercializes noninvasive, high-energy, and acoustic shock waves for regenerative medicine and other applications in the United States and internationally. Its shockwaves are used to produce a biological response resulting in the body healing itself through the repair and regeneration of tissue, and musculoskeletal and vascular structures.