Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Stock Rated “Buy” in New Coverage at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH initiated coverage on shares of Eco Wave Power Global AB (publ) (NASDAQ:WAVE) in a research report released on Thursday morning,FinViz reports. The firm issued a buy rating and a $10.00 price objective on the stock.

WAVE has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research note on Friday, July 17th. Wall Street Zen raised Eco Wave Power Global AB (publ) to a “hold” rating in a research note on Saturday, July 25th. Finally, Alliance Global Partners upgraded Eco Wave Power Global AB (publ) to a “strong-buy” rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Eco Wave Power Global AB (publ) has an average rating of “Moderate Buy” and an average price target of $10.00.

Eco Wave Power Global AB (publ) Stock Performance

Shares of NASDAQ WAVE opened at $5.84 on Thursday. The company has a 50 day simple moving average of $6.47 and a two-hundred day simple moving average of $7.38. Eco Wave Power Global AB has a fifty-two week low of $4.52 and a fifty-two week high of $10.87. The company has a market capitalization of $32.41 million, a price-to-earnings ratio of -9.73 and a beta of -0.44.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02.

Institutional Investors Weigh In On Eco Wave Power Global AB (publ)

A hedge fund recently raised its position in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC boosted its holdings in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) by 60.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,396 shares of the company’s stock after acquiring an additional 8,035 shares during the quarter. SmartHarvest Portfolios LLC owned 0.37% of Eco Wave Power Global AB (publ) worth $135,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 0.57% of the company’s stock.

Eco Wave Power Global AB (publ) Company Profile

Eco Wave Power Global AB (publ) is a renewable-energy technology company that develops systems designed to generate electricity from ocean and sea waves. Its wave-energy conversion technology is intended for installation on existing marine structures, such as breakwaters, piers and seawalls, rather than requiring offshore construction of large standalone facilities.

The company’s system uses floating units that rise and fall with wave movement. This motion is transferred to land-based equipment, where hydraulic mechanisms drive generators to produce electricity.