Solas Capital Management LLC Makes New $6.11 Million Investment in Sanuwave Health Inc. $SNWV

Solas Capital Management LLC purchased a new position in Sanuwave Health Inc. (NASDAQ:SNWV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 610,968 shares of the company’s stock, valued at approximately $6,110,000. Sanuwave Health makes up 3.3% of Solas Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. Solas Capital Management LLC owned 7.10% of Sanuwave Health as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Goldman Sachs Group Inc. bought a new stake in shares of Sanuwave Health during the first quarter valued at about $337,000. Geode Capital Management LLC acquired a new stake in Sanuwave Health in the second quarter worth about $5,184,000. JPMorgan Chase & Co. bought a new position in Sanuwave Health in the 2nd quarter valued at about $109,000. Legal & General Group Plc acquired a new position in Sanuwave Health during the 2nd quarter valued at about $26,000. Finally, Rhumbline Advisers bought a new stake in shares of Sanuwave Health during the 2nd quarter worth about $211,000. 42.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Sanuwave Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.00.

Sanuwave Health Trading Up 2.4%

Shares of SNWV stock opened at $4.72 on Tuesday. The stock has a 50-day simple moving average of $7.51 and a 200 day simple moving average of $15.24. The stock has a market capitalization of $40.59 million, a P/E ratio of 19.67 and a beta of 1.48. Sanuwave Health Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $45.13. The company has a quick ratio of 0.89, a current ratio of 1.28 and a debt-to-equity ratio of 4.87.

Sanuwave Health (NASDAQ:SNWV) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). Sanuwave Health had a net margin of 32.38% and a return on equity of 1,728.10%. The business had revenue of $9.74 million during the quarter, compared to analyst estimates of $11.50 million.

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.