Wall Street Zen Downgrades Eco Wave Power Global AB (publ) (NASDAQ:WAVE) to Sell

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research report on Friday. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $14.50.

Eco Wave Power Global AB (publ) Stock Down 0.1%

Shares of WAVE opened at $8.01 on Friday. The company’s 50-day simple moving average is $8.28 and its 200-day simple moving average is $7.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.38 and a current ratio of 3.38. Eco Wave Power Global AB has a 1 year low of $4.41 and a 1 year high of $17.63. The stock has a market capitalization of $44.45 million, a PE ratio of -14.83 and a beta of -0.47.

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