Sanuwave Health (NASDAQ:SNWV) Stock Price Down 3.9% – Here’s Why

Sanuwave Health Inc. (NASDAQ:SNWV) shares were down 3.9% during trading on Friday . The stock traded as low as $6.30 and last traded at $6.39. 244,665 shares traded hands during trading, a decline of 21% from the average session volume of 308,877 shares. The stock had previously closed at $6.65.

Analyst Upgrades and Downgrades

Several analysts recently commented on SNWV shares. Wall Street Zen downgraded shares of Sanuwave Health from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Roth Capital reiterated a “buy” rating and issued a $47.00 price objective (down from $53.00) on shares of Sanuwave Health in a research note on Monday, March 30th. Zacks Research lowered shares of Sanuwave Health from a “hold” rating to a “strong sell” rating in a research report on Monday, March 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Sanuwave Health in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $51.00.

Sanuwave Health Price Performance

The company has a debt-to-equity ratio of 8.15, a quick ratio of 0.99 and a current ratio of 1.31. The stock has a market capitalization of $54.95 million, a price-to-earnings ratio of 19.36 and a beta of 1.42. The company has a 50-day moving average of $12.88 and a 200-day moving average of $19.44.

Sanuwave Health (NASDAQ:SNWV) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). Sanuwave Health had a negative return on equity of 450.56% and a net margin of 35.96%.The company had revenue of $9.62 million for the quarter, compared to analysts’ expectations of $9.60 million.

Institutional Trading of Sanuwave Health

Several hedge funds and other institutional investors have recently bought and sold shares of SNWV. Legal & General Group Plc purchased a new position in Sanuwave Health during the second quarter worth about $26,000. Charles Schwab Investment Management Inc. increased its position in Sanuwave Health by 4.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,398 shares of the company’s stock worth $728,000 after purchasing an additional 1,135 shares during the last quarter. Bank of America Corp DE boosted its holdings in Sanuwave Health by 4.9% in the first quarter. Bank of America Corp DE now owns 25,503 shares of the company’s stock valued at $441,000 after acquiring an additional 1,182 shares during the last quarter. Barclays PLC grew its holdings in shares of Sanuwave Health by 12.7% during the 4th quarter. Barclays PLC now owns 11,610 shares of the company’s stock worth $346,000 after purchasing an additional 1,306 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in Sanuwave Health during the second quarter worth approximately $46,000. 42.53% of the stock is owned by hedge funds and other institutional investors.

Sanuwave Health Company Profile

Sanuwave Health, Inc is a medical technology company specializing in the development and commercialization of non-invasive acoustic wave therapies designed to stimulate tissue regeneration and accelerate healing. The company’s proprietary Extracorporeal Pulse Activated Technology (EPAT) delivers focused acoustic pressure waves to injured or chronic wound sites, activating the body’s natural repair mechanisms. Sanuwave’s primary therapeutic areas include advanced wound care for diabetic and venous ulcers, as well as orthopedic and musculoskeletal conditions.

The company’s lead product, the dermaPACE® system, holds clearance from the U.S.