Eco Wave Power Global (WAVE)
NASDAQ:WAVE
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Eco Wave Power Global
(NASDAQ:WAVE)
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Rating:56Neutral
Price Target:
$10.00
▲(59.74% Upside)
Action:Reiterated
Date:05/19/26
The score is held back primarily by weak financial performance—unstable revenue, persistent losses, and worsening free-cash-flow burn—despite a relatively modestly levered balance sheet. This is partially offset by strong technical momentum with the stock trading above key moving averages and a positive MACD. Valuation provides limited support due to negative earnings and no dividend yield data.
Positive Factors
Operational reliability and performance
Sustained zero downtime and recorded peak output at the Jaffa Port pilot provide enduring operational validation. Reliable, measurable generation data reduces technology execution risk, strengthens project underwriting, and supports repeatable deployments, aiding long-term commercial scaling and partner confidence.
Negative Factors
Severely volatile and declining revenue
Steep, persistent revenue declines and a very small top line undermine the company’s ability to absorb fixed costs, fund R&D, or demonstrate repeatable commercial sales. Durable growth is required to convert pilots into scalable license or PPA revenue streams and reduce refinancing risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Operational reliability and performance
Sustained zero downtime and recorded peak output at the Jaffa Port pilot provide enduring operational validation. Reliable, measurable generation data reduces technology execution risk, strengthens project underwriting, and supports repeatable deployments, aiding long-term commercial scaling and partner confidence.
Read all positive factors
Eco Wave Power Global (WAVE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$53.20M
Dividend YieldN/A
Average Volume (3M)31.32K
Price to Earnings (P/E)―
Beta (1Y)0.47
Revenue Growth-77.09%
EPS Growth-82.90%
CountryUS
Employees12
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-0.51
Shares Outstanding6,712,356
10 Day Avg. Volume35,762
30 Day Avg. Volume31,317
Financial Highlights & Ratios
PEG Ratio-0.13
Price to Book (P/B)6.01
Price to Sales (P/S)892.80
P/FCF Ratio-10.35
Enterprise Value/Market Cap0.89
Enterprise Value/Revenue282.21
Enterprise Value/Gross Profit376.28
Enterprise Value/Ebitda-20.52
Forecast
1Y Price Target
$15.00Price Target Upside139.62% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.75
Revenue Forecast (FY)$200.00K
Eco Wave Power Global Business Overview & Revenue Model
Company Description
Eco 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, co...
How the Company Makes Money
Eco Wave Power’s revenue model is primarily based on commercializing its wave energy conversion technology through (1) licensing and royalties, (2) project-related development and implementation income, and (3) potential electricity sales from com...
Eco Wave Power Global Earnings Call Summary
Earnings Call Date:Aug 14, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Aug 17, 2026
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.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.
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.
Read all updates
Q2-2025 Updates
Positive
Negative
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.
Read all positive updates
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
Income Statement
18
Very Negative
Balance Sheet
56
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 168.00K | 38.20K | 168.00K | 306.00K | 26.00K | 31.00K |
| Gross Profit | 126.00K | -233.25K | 126.00K | 247.00K | 4.00K | 4.00K |
| EBITDA | -2.31M | -2.96M | -1.92M | -1.65M | -2.64M | -2.05M |
| Net Income | -2.96M | -3.72M | -2.08M | -1.71M | -2.90M | -2.35M |
Balance Sheet | ||||||
| Total Assets | 9.37M | 8.14M | 10.68M | 10.01M | 11.92M | 16.65M |
| Cash, Cash Equivalents and Short-Term Investments | 7.74M | 6.27M | 9.10M | 8.38M | 10.29M | 14.62M |
| Total Debt | 1.39M | 1.34M | 1.34M | 1.20M | 1.24M | 1.36M |
| Total Liabilities | 2.46M | 2.65M | 2.38M | 2.21M | 2.04M | 1.91M |
| Stockholders Equity | 7.09M | 5.67M | 8.46M | 7.95M | 9.87M | 14.73M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -3.29M | -1.85M | -2.61M | -2.46M | -2.54M |
| Operating Cash Flow | 0.00 | -2.77M | -1.82M | -2.60M | -2.46M | -2.53M |
| Investing Cash Flow | 0.00 | 630.37K | 2.93M | 1.22M | -5.30M | -130.00K |
| Financing Cash Flow | 0.00 | -187.00K | 2.58M | -81.00K | -320.00K | 7.86M |
Eco Wave Power Global Technical Analysis
Positive
6.26
Price Trends
7.13
Positive
6.23
Positive
6.95
Positive
Market Momentum
0.64
Negative
59.01
Neutral
43.61
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 6.26 is below the 20-day moving average (MA) of 8.29, below the 50-day MA of 7.13, and below the 200-day MA of 6.95, indicating a bullish trend. The MACD of 0.64 indicates Negative momentum. The RSI at 59.01 is Neutral, neither overbought nor oversold. The STOCH value of 43.61 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 70 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 0 New Risks
Eco Wave Power Global Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
56 Neutral | $53.20M | -13.25 | -64.74% | ― | -77.09% | -82.90% | |
| ― | $8.78M | -0.29 | -2.68% | ― | 1598.12% | 73.09% | |
43 Neutral | $87.76M | -7.73 | -43.78% | ― | ― | 26.87% | |
43 Neutral | $9.54M | -2.33 | -177.63% | ― | 838.07% | 88.10% | |
41 Neutral | $809.28K | ― | -327.21% | ― | ― | 21.46% |
* Utilities Sector Average
WAVE
Eco Wave Power Global
8.80
2.80
46.68%
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0.39
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-94.24%
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Fusion Fuel Green
3.01
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VGAS
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BNRG
Brenmiller
1.63
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-97.91%
Eco Wave Power Global Corporate Events
Eco Wave Power U.S. Joins NVIDIA Inception to Build AI-Driven Wave Energy Infrastructure
May 18, 2026
On May 18, 2026, Eco Wave Power Global said its U.S. subsidiary has joined the NVIDIA Inception program to accelerate the development of AI-enabled applications for wave energy infrastructure and intelligent energy management. Through access to NV...
Eco Wave Power trims Q1 costs and expands global wave energy footprint while targeting AI-driven power demand
May 7, 2026
Eco Wave Power Global reported first-quarter 2026 results on May 7, 2026, highlighting an 11% reduction in operating expenses versus a year earlier and quarter-end cash and short-term deposits of $5.3 million to support ongoing development and exp...
Eco Wave Power Featured by NVIDIA for AI-Driven Wave Energy Vision
May 4, 2026
On May 4, 2026, Eco Wave Power Global announced that NVIDIA has produced and distributed a short film across its global social media channels, showcasing the company’s AI-driven approach to optimizing wave energy generation. The feature foll...
Eco Wave Power Highlights March Wave Power Gains at Jaffa Port as AI Energy Demand Rises
Apr 7, 2026
Eco Wave Power Global AB, a Nasdaq-traded leader in onshore wave energy, develops patented systems that generate renewable electricity from waves using floaters mounted on existing coastal structures. The company focuses on supplying clean power c...
Eco Wave Power and Shell Conclude Port of Los Angeles Wave Energy Pilot With Final Report Submission
Mar 31, 2026
On March 31, 2026, Eco Wave Power Global announced it had submitted a final project completion report to Shell International Exploration and Production, formally closing their Port of Los Angeles wave energy pilot launched under a 2024 Pilot Test ...
Eco Wave Power Advances Taiwan Wave Energy Project with Suao Port Land Lease
Mar 23, 2026
Eco Wave Power Global announced on March 23, 2026 that its Taiwanese partner, I-Ke International Ocean Energy, signed a five-year land lease in December 2025 for a designated wave energy site at Suao Port, Taiwan. The lease, which includes an opti...
Eco Wave Power Showcased in NVIDIA GTC Keynote as Wave Energy Pitch to Power the AI Era
Mar 17, 2026
On March 17, 2026, Eco Wave Power Global announced that its onshore wave energy technology was featured in a video shown during NVIDIA CEO Jensen Huang’s keynote address at the NVIDIA GTC conference in San Jose, underscoring the role of wave...
Eco Wave Power Posts Strong 2025 Wave-Energy Milestones and Files Annual Report
Mar 12, 2026
Eco Wave Power Global filed its Form 20-F annual report for 2025 on March 12, 2026, detailing a year of strong operational progress and international expansion in wave energy. The company reported a 28% rise in annual operating expenses to $3.15 m...
Eco Wave Power Sets Record Output at Jaffa Port Pilot in February 2026
Mar 4, 2026
Eco Wave Power Global AB reported operational data on March 4, 2026 for its EWP-EDF One pilot project at Jaffa Port, Israel, detailing February 2026 performance. The onshore wave energy system operated for about nine days in moderate 1–2 met...
Eco Wave Power Featured in New U.S. DOE Lab Report on Coastal Wave Energy Economics
Feb 19, 2026
On February 19, 2026, Eco Wave Power Global announced that its onshore, coastal-structure-integrated wave energy technology has been highlighted in a new U.S. Department of Energy national laboratory report as a lower-risk, higher-value pathway fo...
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.