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Eco Wave Power Global (WAVE)
NASDAQ:WAVE
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Eco Wave Power Global (WAVE) AI Stock Analysis

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WAVE

Eco Wave Power Global

(NASDAQ:WAVE)

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Neutral 51 (OpenAI - 4o)
Rating:51Neutral
Price Target:
$8.50
▲(3.66% Upside)
Eco Wave Power Global's overall score is driven by its challenging financial performance and valuation concerns. However, the positive sentiment from the earnings call and strategic global expansion efforts provide a potential for future growth. Technical indicators remain neutral, offering no strong directional bias.
Positive Factors
Strategic Global Expansion
Eco Wave Power's expansion into diverse markets with strategic partnerships enhances its global footprint, potentially increasing revenue streams and market influence.
Innovative Commercialization Strategy
The development of large-scale projects demonstrates the scalability of Eco Wave Power's technology, positioning it as a leader in renewable energy solutions.
Leadership Strengthened
Strengthening the leadership team with experienced individuals supports strategic growth and enhances corporate governance, crucial for long-term success.
Negative Factors
Declining Revenue
A decline in revenue growth suggests challenges in market penetration and sales effectiveness, potentially impacting long-term financial health.
Negative Cash Flows
Persistent negative cash flows indicate operational inefficiencies and may limit the company's ability to invest in growth opportunities.
Net Loss
Ongoing net losses reflect challenges in achieving profitability, which could hinder the company's ability to sustain operations without external funding.

Eco Wave Power Global (WAVE) vs. SPDR S&P 500 ETF (SPY)

Eco Wave Power Global Business Overview & Revenue Model

Company DescriptionEco Wave Power Global AB (publ), a wave energy company, develops a wave energy conversion (WEC) technology that converts ocean and sea waves into clean electricity. The company also holds various agreements, including power purchase agreements, concession agreements, and other agreements worldwide with pipeline of projects with approximately 404.7 megawatts, as well as letters of intent. It operates in the United States, Taiwan, Sweden, Israel, Portugal, Mexico, and internationally. The company was formerly known as EWPG Holding AB (publ) and changed its name to Eco Wave Power Global AB (publ) in June 2021. Eco Wave Power Global AB (publ) was founded in 2011 and is headquartered in Tel Aviv-Yafo, Israel.
How the Company Makes MoneyEco Wave Power generates revenue primarily through the deployment and operation of its wave energy projects. The company earns money by selling the electricity produced from its wave energy converters, typically under Power Purchase Agreements (PPAs) with utility companies or other energy buyers. Additionally, WAVE may receive government incentives and subsidies aimed at promoting renewable energy technologies. Significant partnerships with governmental bodies, energy firms, and research institutions also contribute to the company's revenue model by facilitating project funding and development opportunities.

Eco Wave Power Global Earnings Call Summary

Earnings Call Date:Aug 14, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Nov 03, 2025
Earnings Call Sentiment Positive
The earnings call reflects a positive outlook with strong financial positioning and strategic global expansion. Although there are increased operating expenses and a net loss due to strategic investments, the company's growth in new markets and successful project executions highlight its potential to deliver long-term value.
Q2-2025 Updates
Positive Updates
Strong Financial Foundation
Ended the period with $7.94 million in cash and short-term bank deposits, providing a strong foundation to fund ongoing projects and future growth.
Strategic Global Expansion
Expansion in multiple regions including the U.S., Portugal, Asia, and Africa with strategic partnerships and pilot projects demonstrating global growth.
Successful Project Execution
In the U.S., completed installation of floaters and energy conversion unit at Port of L.A. just 6 months after receiving the final license.
Innovative Commercialization Strategy
Advancing a megawatt-scale project in Portugal with 90% wave availability, demonstrating wave energy's potential as a stable renewable source.
Leadership Strengthened
Appointment of Hilary Ackermann to the Board of Directors, bringing valuable expertise in energy and finance.
Negative Updates
Increased Operating Expenses
Operating expenses for H1 2025 totaled $1.6 million, up by USD 239,000 from H1 2024 due to continued investments in R&D and project execution.
Net Loss
Net loss for the first half of 2025 was USD 1.9 million, attributed to growth investments and foreign exchange impact.
Company Guidance
During the Eco Wave Power Second Quarter 2025 Earnings Call, the company provided detailed guidance on various financial and strategic metrics. Operating expenses for the first half of 2025 increased to $1.6 million, an uptick of $239,000 from the previous year, driven by a 25% increase in R&D expenses to $399,000 and a 22% rise in general and administrative expenses to $1.1 million due to new hires in the U.S. Other income almost doubled to $62,000, attributed to technology demonstration services in Asia. Despite a net loss of $1.9 million, the company ended the period with $7.94 million in cash and short-term deposits, fortifying its financial position. Strategic initiatives included advancing a megawatt-scale project in Portugal with 90% wave availability, completing a pilot project in the U.S. at the Port of L.A. in collaboration with Shell, and expanding into Asia with partnerships in India and Taiwan. Additionally, Eco Wave Power signed a feasibility study agreement for a potential project in South Africa and is participating in the EUR 2.45 million Atlantic Wave Energy Sustainable Deployment Initiative. These efforts, along with the recent addition of Hilary Ackermann to the Board of Directors, highlight the company's commitment to scaling operations and integrating wave energy into the mainstream renewable energy market.

Eco Wave Power Global Financial Statement Overview

Summary
Eco Wave Power Global faces financial challenges with consistent losses and negative cash flows. Despite a strong equity base and low leverage, declining revenue and persistent negative cash flows are significant concerns.
Income Statement
30
Negative
Eco Wave Power Global's income statement shows weak profitability with negative net income consistently over the years. Gross profit margin is healthy at 75% in 2024, but the company struggles with EBIT and EBITDA margins, both negative. The revenue growth rate from 2023 to 2024 is negative, indicating a decline in sales.
Balance Sheet
60
Neutral
The balance sheet reflects a relatively stable financial position with a moderate debt-to-equity ratio of 0.16 in 2024, indicating low leverage. The equity ratio is robust at 79.2%, suggesting a strong equity base. However, declining total assets and stockholders' equity over the years may be concerning.
Cash Flow
40
Negative
Cash flow analysis reveals challenges with negative operating and free cash flows over multiple years. The free cash flow growth rate is positive from 2023 to 2024, but the company still reports negative free cash flow. The operating cash flow to net income ratio is negative, highlighting inefficiencies in cash generation from core operations.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue168.00K168.00K306.00K26.00K31.00K0.00
Gross Profit126.00K126.00K247.00K4.00K4.00K0.00
EBITDA-2.37M-1.92M-1.62M-2.61M-2.92M-1.79M
Net Income-2.95M-2.08M-1.71M-2.90M-2.35M-1.96M
Balance Sheet
Total Assets9.37M10.68M10.01M11.92M16.65M12.68M
Cash, Cash Equivalents and Short-Term Investments7.74M9.10M8.45M10.29M14.62M10.72M
Total Debt1.39M1.34M1.20M1.24M1.36M1.41M
Total Liabilities2.46M2.38M2.21M2.04M1.91M1.90M
Stockholders Equity7.09M8.46M7.95M9.87M14.73M10.78M
Cash Flow
Free Cash Flow0.00-1.85M-2.61M-2.46M-2.54M-2.56M
Operating Cash Flow0.00-1.82M-2.60M-2.46M-2.53M-2.36M
Investing Cash Flow0.002.93M1.22M-5.30M-130.00K-145.07K
Financing Cash Flow0.002.58M-81.00K-320.00K7.86M-108.01K

Eco Wave Power Global Technical Analysis

Technical Analysis Sentiment
Positive
Last Price8.20
Price Trends
50DMA
8.25
Negative
100DMA
7.52
Positive
200DMA
7.55
Positive
Market Momentum
MACD
-0.07
Positive
RSI
48.84
Neutral
STOCH
45.79
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WAVE, the sentiment is Positive. The current price of 8.2 is below the 20-day moving average (MA) of 8.25, below the 50-day MA of 8.25, and above the 200-day MA of 7.55, indicating a neutral trend. The MACD of -0.07 indicates Positive momentum. The RSI at 48.84 is Neutral, neither overbought nor oversold. The STOCH value of 45.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for WAVE.

Eco Wave Power Global Risk Analysis

Eco Wave Power Global disclosed 69 risk factors in its most recent earnings report. Eco Wave Power Global reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
Potential tariffs could adversely affect the Company's business and financial results. Q4, 2024

Eco Wave Power Global Peers Comparison

Overall Rating
UnderperformOutperform
Sector (66)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
66
Neutral
$17.65B18.105.60%3.62%6.62%11.55%
51
Neutral
$47.90M-43.16%-46.17%-54.38%
45
Neutral
$10.30M-771.66%-98.36%56.27%
44
Neutral
$8.44M-125.98%
37
Underperform
$142.56M-19.15%10.88%
32
Underperform
$4.63M-327.21%
31
Underperform
$3.92M-2.67%-75.14%
* Utilities Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
WAVE
Eco Wave Power Global
8.20
-0.27
-3.19%
CREG
Smart Powerr Corp
1.34
-6.22
-82.28%
HTOO
Fusion Fuel Green
4.66
-19.34
-80.58%
ADN
Advent Technologies Holdings
3.13
1.31
71.98%
VGAS
Verde Clean Fuels
3.20
-1.00
-23.81%
BNRG
Brenmiller
1.70
-2.42
-58.74%

Eco Wave Power Global Corporate Events

Eco Wave Power’s Los Angeles Wave Energy Project Recognized by TIME
Oct 14, 2025

On October 14, 2025, Eco Wave Power Global announced that its wave energy pilot project at AltaSea in the Port of Los Angeles was named to TIME’s 2025 Best Inventions list. This recognition underscores the project’s significance in advancing wave energy as a sustainable and predictable electricity source. The Los Angeles pilot, developed with Shell Marine Renewable Energy, is the first onshore wave energy installation in the U.S. and serves as a proof-of-concept for future deployments. This accolade highlights Eco Wave Power’s role in addressing climate change and its potential for broader deployment, complementing its global expansion efforts.

Congresswoman Barragán Advocates for Federal Investment in Eco Wave Power’s LA Project
Oct 7, 2025

On October 7, 2025, Eco Wave Power Global announced that U.S. Congresswoman Nanette Barragán visited its onshore wave energy pilot station at AltaSea in the Port of Los Angeles, marking the first installation of its kind in the U.S. Barragán emphasized the potential of wave energy as a renewable source and advocated for federal support, including her proposed $1 billion Marine Energy Technologies Acceleration Act. The visit highlights the feasibility and scalability of wave energy, with Eco Wave Power positioned to lead in marine renewable energy, offering significant opportunities for investors and municipalities to diversify their renewable energy portfolios.

Eco Wave Power and BladeRanger Unveil Drone-Powered Maintenance for Wave Energy
Sep 16, 2025

On September 16, 2025, Eco Wave Power Global announced a collaboration with BladeRanger Ltd. to introduce drone-powered maintenance for its onshore wave energy systems. This partnership, demonstrated at the Jaffa Port project in Israel, aims to reduce operational costs and downtime while increasing energy output. The integration of BladeRanger’s drone technology is expected to enhance the competitiveness of wave power compared to other renewable sources, with potential long-term strategic collaboration for global deployment.

Eco Wave Power Launches First U.S. Wave Energy Project at Port of Los Angeles
Sep 10, 2025

On September 10, 2025, Eco Wave Power launched its first U.S. wave energy project at the Port of Los Angeles, marking a significant milestone in renewable energy. This project, developed in collaboration with AltaSea and Shell Marine Renewable Energy, is the first onshore wave energy installation in the U.S. and showcases the company’s scalable technology. It aligns with California’s climate policies and federal initiatives, positioning Eco Wave Power as a leader in the emerging U.S. wave energy sector. The project has garnered national media attention and is expected to contribute to California’s clean energy goals, with future expansions planned in Taiwan, India, Portugal, and Africa.

Eco Wave Power Completes Testing and Launches Floaters in U.S. Pilot
Aug 27, 2025

On August 27, 2025, Eco Wave Power Global announced the successful completion of operational testing for its U.S. pilot project at the Port of Los Angeles, marking a significant milestone with the lowering of its innovative floaters into the water. This achievement, broadcasted live by Good Morning America, signifies a major step in the company’s U.S. commercialization strategy and highlights the potential of wave energy technology. The project aims to demonstrate Eco Wave Power’s patented onshore technology, support environmental monitoring, and establish a foundation for future commercial wave energy projects in the U.S., strengthening the company’s global project pipeline.

Eco Wave Power Secures Landmark Wave Energy Project in Taiwan
Aug 19, 2025

On August 19, 2025, Eco Wave Power Global announced that its partner, I-KE International Ocean Energy Co., has been awarded a land use tender for a wave energy project at Suao Port, Taiwan. This marks the first time a commercial port in Taiwan has been opened for wave power testing, aligning with the country’s renewable energy transition strategy. The project will deploy Taiwan’s first 100 kW onshore wave energy conversion unit, setting a precedent for future developments and positioning Suao Port as a green energy demonstration hub.

Eco Wave Power Global Reports Financial Results for First Half of 2025
Aug 14, 2025

On August 14, 2025, Eco Wave Power Global announced its financial results for the six-month period ending June 30, 2025. The report highlighted a decrease in total assets and equity compared to December 31, 2024, alongside an increase in operating expenses, resulting in a net loss for the period. This financial performance may impact the company’s operational strategies and its position within the renewable energy sector.

Eco Wave Power Completes Installation at Port of Los Angeles
Aug 11, 2025

On August 11, 2025, Eco Wave Power Global announced the completion of its U.S. pilot project installation at the Port of Los Angeles, marking a significant milestone in its U.S. operations. This project, which includes wave energy floaters and an onshore energy conversion unit, is set to begin operational testing and will be unveiled on September 9, 2025. The Los Angeles project serves as a demonstration station aimed at showcasing Eco Wave Power’s technology, facilitating environmental monitoring, and laying the groundwork for future commercial projects in the U.S. This initiative strengthens the company’s global project pipeline and positions it as a leader in advancing wave energy technology.

Eco Wave Power Advances U.S. Wave Energy Project with Key Installation
Aug 7, 2025

On August 7, 2025, Eco Wave Power Global announced the installation of its energy conversion unit at the Port of Los Angeles, marking a significant step toward the operational testing of its first U.S. wave energy project. This installation transitions the project from construction to the pre-operation stage, with the official unveiling scheduled for September 9, 2025. The project, supported by Shell’s Marine Renewable Program, aims to facilitate environmental monitoring, serve as an educational platform, and lay the groundwork for future grid-connected wave energy projects. The initiative highlights Eco Wave Power’s innovative approach to renewable energy and its potential impact on the industry.

Eco Wave Power Achieves Key Milestone in U.S. Wave Energy Project
Jul 28, 2025

On July 28, 2025, Eco Wave Power Global announced the completion of floater installations for its first U.S. wave energy project at the Port of Los Angeles, marking a significant milestone ahead of its official unveiling on September 9, 2025. This demonstration pilot aims to validate the company’s wave energy technology in real-world conditions and is a strategic step for Eco Wave Power’s entry into the U.S. market, with goals including environmental impact studies and gaining experience in U.S. licensing processes.

Eco Wave Power Enters African Market with South Africa Feasibility Study
Jul 24, 2025

On July 24, 2025, Eco Wave Power Global announced its strategic entry into the African market by signing an agreement with Africa Great Future Development Ltd to conduct a feasibility study for a wave energy power station at the Port of Ngqura, South Africa. This move aligns with the company’s strategy to expand into regions with high renewable energy demand and significant coastal resources. The initiative aims to address South Africa’s energy challenges, which are currently dominated by coal-fired power plants, by exploring the country’s untapped wave energy potential. This development is part of Eco Wave Power’s broader strategy to demonstrate the scalability and viability of wave energy across diverse global markets.

Eco Wave Power Launches First U.S. Wave Energy Pilot at Port of Los Angeles
Jul 21, 2025

On July 21, 2025, Eco Wave Power Global announced a partnership with C&S Welding Inc. to deliver its first U.S. wave energy pilot at the Port of Los Angeles. This agreement marks a significant milestone in Eco Wave Power’s U.S. expansion, with the installation of wave energy floaters and an energy conversion unit. The collaboration with C&S Welding, a reputable California-based contractor, represents the final operational step before deployment, highlighting the potential for wave energy technology to contribute to sustainable energy solutions in the U.S.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Oct 18, 2025