Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Trading Down 7.5% - Time to Sell?

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE - Get Free Report)'s stock price traded down 7.5% during trading on Tuesday . The company traded as low as $7.53 and last traded at $8.46. 51,058 shares traded hands during trading, an increase of 126% from the average session volume of 22,546 shares. The stock had previously closed at $9.15.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Eco Wave Power Global AB (publ) from a "sell" rating to a "hold" rating in a report on Saturday, June 14th.

Eco Wave Power Global AB (publ) Trading Down 6.9%

The company has a market cap of $45.32 million, a PE ratio of -20.94 and a beta of -0.47. The business has a 50 day simple moving average of $6.61 and a two-hundred day simple moving average of $7.10. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 0.02.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.03.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Eco Wave Power Global AB (publ) stock. Commonwealth Equity Services LLC acquired a new position in shares of Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 30,000 shares of the company's stock, valued at approximately $330,000. Commonwealth Equity Services LLC owned about 0.54% of Eco Wave Power Global AB (publ) as of its most recent SEC filing. 0.57% of the stock is currently 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.