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Eco Wave Power Global Ab (WAVE)
:WAVE
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Eco Wave Power Global
(NASDAQ:WAVE)
44Neutral
Eco Wave Power Global (WAVE) vs. S&P 500 (SPY)
Market Cap
$34.93M
Dividend YieldN/A
Average Volume (3M)28.70K
Price to Earnings (P/E)―
Beta (1Y)-1.39
Revenue Growth-46.17%
EPS Growth-20.51%
CountryUS
Employees12
SectorUtilities
Sector Strength94
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-0.37
Shares Outstanding5,841,731
10 Day Avg. Volume33,816
30 Day Avg. Volume28,700
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap0.77
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit212.73
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$14.50Price Target Upside123.77% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Eco Wave Power Global Business Overview & Revenue Model
Company DescriptionEco 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. It also operates a grid-connected wave energy array in Gibraltar under a power purchase agreement with the Government of Gibraltar and Gibraltar's National Electric Company. The company also holds various agreements comprising power purchase agreements, concession agreements, and other agreements worldwide with pipeline of projects with approximately 327.7 megawatts. It has operations in Sweden, Israel, Portugal, China, Gibraltar, Australia, and Mexico. 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 Global makes money through the sale and installation of its wave energy conversion systems. The company generates revenue by entering into agreements with governments, utility companies, and private entities for the deployment of its technology in coastal and island regions. Additionally, Eco Wave Power may receive income from operating and maintenance contracts, as well as potential licensing fees for its patented technology. Strategic partnerships with infrastructure developers and energy providers can also contribute to its revenue streams by facilitating broader adoption and integration of its wave energy solutions.
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. The declining revenue and persistent negative cash flows are significant concerns.Income Statement
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.30
Negative
Balance Sheet
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.60
Neutral
Cash Flow
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.40
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 168.00K | 306.00K | 26.00K | 31.00K | 0.00 | Gross Profit |
| 126.00K | 247.00K | 4.00K | 4.00K | 0.00 | EBIT |
| -2.34M | -2.41M | -3.59M | -3.06M | ― | EBITDA |
| -1.92M | -1.62M | -2.61M | -2.92M | -1.79M | Net Income Common Stockholders |
| -2.08M | -1.71M | -2.14M | -2.40M | ― |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 9.10M | 8.38M | 10.29M | 14.62M | 10.72M | Total Assets |
| 10.68M | 10.01M | 11.92M | 16.65M | 12.68M | Total Debt |
| 1.34M | 1.20M | 1.24M | 1.36M | 1.41M | Net Debt |
| -6.50M | -3.08M | -4.06M | -13.26M | -9.30M | Total Liabilities |
| 2.38M | 2.21M | 2.04M | 1.91M | 1.90M | Stockholders Equity |
| 8.46M | 7.95M | 9.87M | 14.73M | 10.78M |
| Cash Flow | Free Cash Flow | |||
| -1.85M | -2.61M | -2.46M | -2.54M | ― | Operating Cash Flow |
| -1.82M | -2.60M | -2.46M | -2.53M | ― | Investing Cash Flow |
| 2.93M | 1.22M | -5.30M | -130.00K | ― | Financing Cash Flow |
| 2.58M | -81.00K | -320.00K | 7.86M | ― |
Eco Wave Power Global Technical Analysis
Negative
6.48
Price Trends
6.95
Negative
8.86
Negative
7.21
Negative
Market Momentum
-0.20
Negative
44.41
Neutral
66.13
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WAVE, the sentiment is Negative. The current price of 6.48 is above the 20-day moving average (MA) of 6.05, below the 50-day MA of 6.95, and below the 200-day MA of 7.21, indicating a bearish trend. The MACD of -0.20 indicates Negative momentum. The RSI at 44.41 is Neutral, neither overbought nor oversold. The STOCH value of 66.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 0 New Risks
Eco Wave Power Global Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $8.52B | 12.04 | 6.70% | 4.34% | 3.08% | -11.00% | |
45 Neutral | $115.40M | ― | -77.55% | ― | -86.47% | -33.37% | |
44 Neutral | $34.93M | ― | -25.26% | ― | -46.17% | -20.51% | |
41 Neutral | $5.06M | ― | -771.66% | ― | 10.92% | 52.75% | |
38 Underperform | $7.00M | ― | -1134.77% | ― | ― | ― | |
37 Underperform | $9.63M | ― | -335.00% | ― | ― | ― | |
25 Underperform | $6.31M | ― | -1.46% | ― | ― | -91.89% |
* Utilities Sector Average
Performance Comparison
WAVE
Eco Wave Power Global
5.98
3.28
121.48%
CREG
Smart Powerr Corp
0.64
-0.45
-41.28%
HTOO
Fusion Fuel Green
0.30
-1.00
-76.92%
ADN
Advent Technologies Holdings
2.09
-1.77
-45.85%
NRGV
Energy Vault Holdings
0.75
-0.50
-40.00%
BNRG
Brenmiller
1.19
-0.79
-39.90%
Eco Wave Power Global Earnings Call Summary
Earnings Call Date:Mar 03, 2025
(Q3-2024)
| % Change Since: -13.72%|
Next Earnings Date:May 19, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant progress in cost efficiency, financial management, and project execution, particularly with key milestones reached in Israel and the U.S. The company also expanded its global reach with a new deal in Taiwan and legislative support in the U.S. Challenges are minimal, with only a modest cash decrease and some uncertainty around future legislation. Overall, the sentiment is positive, given the achievements and strategic growth initiatives.Q3-2024 Updates
Positive Updates
Cost Efficiency Improvements
Eco Wave Power reduced overall expenses by 10% quarter-over-quarter. General and administrative expenses decreased by USD 63,000, and research and development expenses were reduced by $29,000. These measures led to a $73,000 reduction in operating loss quarter-over-quarter.
Financial Position
The company maintained a solid financial position with $7.04 million in cash and short-term bank deposits, reflecting only a modest $447,000 decrease from Q2 2024.
EWP-EDF One Project Milestone
In Israel, the EWP-EDF One project at the Port of Jaffa achieved 0% downtime for the first time in June 2024 and reached 83% of its energy generation target by September, a 27% improvement over three months.
Regulatory Milestone in the U.S.
Secured a major regulatory milestone with the final nationwide permit from the U.S. Army Corps of Engineers for the first Wave Energy project at AltaSea’s premises in the Port of Los Angeles.
First Turnkey Wave Energy Deal in Taiwan
Signed the first turnkey Wave Energy deal in Taiwan, which is expected to boost market presence and revenue potential.
Marine Energy Technologies Acceleration Act
Proposed legislation would allocate $1 billion to accelerate the commercialization of marine energy technologies, providing vital funding for demonstration projects and research.
Negative Updates
Minor Cash Decrease
There was a modest decrease of $447,000 in cash and short-term bank deposits from Q2 2024.
Uncertainty Around Inflation Reduction Act
Uncertainty exists around the Inflation Reduction Act under the incoming administration, although there is confidence that states like California will advance clean energy initiatives.
Company Guidance
In the third quarter of 2024, Eco Wave Power reported a 10% reduction in overall expenses from the previous quarter, achieved through decreases in general and administrative expenses by USD 63,000 and research and development expenses by USD 29,000. This cost-saving effort was supplemented by an increase in grants, contributing to a $73,000 reduction in operating loss quarter-over-quarter. The company maintained a robust financial position with $7.04 million in cash and short-term bank deposits, a slight decrease of $447,000 from Q2 2024. Notably, the EWP-EDF One project in Israel reached 83% of its energy generation target by September, marking a 27% improvement over three months. In the United States, Eco Wave Power secured a key regulatory permit for its first onshore wave energy installation at the Port of Los Angeles, with completion expected by the end of Q1 2025. The company also initiated an American Depository Share repurchase program in September, aimed at enhancing shareholder value.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.