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Eco Wave Power Global (WAVE)
NASDAQ:WAVE
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Eco Wave Power Global
(NASDAQ:WAVE)
Rating:54Neutral
Price Target:
$8.50
▼(-1.05% Downside)
Positive Factors
Partnerships
WAVE is working on projects in Israel, Portugal, Taiwan, and the U.S. with development partners like Shell, EDF, and Bharat Petroleum.
Project Development
WAVE announced progress on multiple wave energy projects, including completing the installation of the Port of Los Angeles project.
Technological Advantage
WAVE's focus on shoreline wave power, without meaningful infrastructure requirements, differentiates it from other companies that have tried to generate electricity from sea and ocean waves.
Negative Factors
Financial Performance
No revenue was generated in 2Q25 due to the timing of starting the Los Angeles project, which was below the forecast.
Project Delays
No revenue was generated in 2Q25 due to the timing of starting the Los Angeles project, indicating potential delays.
Revenue Generation
WAVE reported 1Q25 results including no revenue and an EBITDA loss of ($0.8M), both roughly in-line with estimates.
Eco Wave Power Global (WAVE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$50.16M
Dividend YieldN/A
Average Volume (3M)22.62K
Price to Earnings (P/E)―
Beta (1Y)-1.01
Revenue Growth-46.17%
EPS Growth-54.38%
CountryUS
Employees12
SectorUtilities
Sector Strength60
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-0.24
Shares Outstanding5,841,731
10 Day Avg. Volume30,721
30 Day Avg. Volume22,623
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.58
Enterprise Value/Revenue173.75
Enterprise Value/Gross Profit231.66
Enterprise Value/Ebitda-14.37
Forecast
1Y Price Target
$15.00Price Target Upside74.62% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
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 Global makes money primarily through the sale and licensing of its wave energy conversion technology. The company generates revenue by installing its systems in various locations and entering into power purchase agreements (PPAs) with utility companies and other entities interested in utilizing renewable energy. Additionally, Eco Wave Power Global may engage in joint ventures or partnerships with governments and private enterprises to expand its reach and implement its technology in new markets. The company's ability to secure funding and grants for clean energy projects also plays a crucial role in its financial strategy.
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 significant financial challenges with consistent losses and negative cash flows. Despite a strong equity base and low leverage, declining revenue and persistent cash flow issues are major concerns. Improvement in operational efficiency and revenue generation is critical.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 | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 168.00K | 168.00K | 306.00K | 26.00K | 31.00K | 0.00 |
| Gross Profit | 126.00K | 126.00K | 247.00K | 4.00K | 4.00K | 0.00 |
| EBITDA | -2.03M | -1.92M | -1.62M | -2.61M | -2.92M | -1.79M |
| Net Income | -2.06M | -2.08M | -1.71M | -2.14M | -2.40M | ― |
Balance Sheet | ||||||
| Total Assets | 10.22M | 10.68M | 10.01M | 11.92M | 16.65M | 12.68M |
| Cash, Cash Equivalents and Short-Term Investments | 8.58M | 9.10M | 8.38M | 10.29M | 14.62M | 10.72M |
| Total Debt | 1.39M | 1.34M | 1.20M | 1.24M | 1.36M | 1.41M |
| Total Liabilities | 2.54M | 2.38M | 2.21M | 2.04M | 1.91M | 1.90M |
| Stockholders Equity | 7.86M | 8.46M | 7.95M | 9.87M | 14.73M | 10.78M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -1.85M | -2.61M | -2.46M | -2.54M | ― |
| Operating Cash Flow | 0.00 | -1.82M | -2.60M | -2.46M | -2.53M | ― |
| Investing Cash Flow | 0.00 | 2.93M | 1.22M | -5.30M | -130.00K | ― |
| Financing Cash Flow | 0.00 | 2.58M | -81.00K | -320.00K | 7.86M | ― |
Eco Wave Power Global Technical Analysis
Positive
8.59
Price Trends
7.64
Positive
6.83
Positive
8.06
Positive
Market Momentum
0.22
Negative
59.26
Neutral
56.82
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 8.59 is above the 20-day moving average (MA) of 7.87, above the 50-day MA of 7.64, and above the 200-day MA of 8.06, indicating a bullish trend. The MACD of 0.22 indicates Negative momentum. The RSI at 59.26 is Neutral, neither overbought nor oversold. The STOCH value of 56.82 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 | $17.24B | 18.03 | 5.60% | 3.64% | 6.63% | 11.55% | |
54 Neutral | $50.16M | ― | -43.16% | ― | -46.17% | -54.38% | |
54 Neutral | $335.04M | ― | -101.08% | ― | -82.87% | -59.38% | |
45 Neutral | $8.92M | ― | -771.66% | ― | -98.36% | 56.27% | |
39 Underperform | $7.24M | ― | -1134.77% | ― | ― | ― | |
32 Underperform | $5.64M | ― | -335.00% | ― | ― | ― | |
31 Underperform | $4.28M | ― | -2.67% | ― | ― | -75.14% |
* Utilities Sector Average
Performance Comparison
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Eco Wave Power Global
8.59
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2.07
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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.