Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Coverage Initiated at Alliance Global Partners

Analysts at Alliance Global Partners began coverage on shares of Eco Wave Power Global AB (publ) (NASDAQ:WAVE) in a note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $14.00 price target on the stock. Alliance Global Partners’ target price points to a potential upside of 75.66% from the company’s current price.

Eco Wave Power Global AB (publ) Stock Down 6.3 %

NASDAQ WAVE traded down $0.54 during trading hours on Monday, hitting $7.97. The company’s stock had a trading volume of 30,075 shares, compared to its average volume of 56,304. Eco Wave Power Global AB has a 52 week low of $1.01 and a 52 week high of $17.63. The company has a market capitalization of $44.23 million, a PE ratio of -18.53 and a beta of -0.72. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 0.01. The company’s 50-day simple moving average is $11.25 and its two-hundred day simple moving average is $7.39.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last announced its quarterly earnings results on Thursday, November 21st. The company reported ($0.10) earnings per share for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Eco Wave Power Global AB (publ) stock. Catalina Capital Group LLC boosted its holdings in Eco Wave Power Global AB (publ) (NASDAQ:WAVE) by 22.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,338 shares of the company’s stock after buying an additional 4,239 shares during the period. Catalina Capital Group LLC owned approximately 0.42% of Eco Wave Power Global AB (publ) worth $257,000 as of its most recent filing with the Securities and Exchange Commission. 0.57% of the stock is owned by institutional investors.

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.