Rankings Utilities & power Eco Wave Power
Eco Wave Power
44
15070100
A view of the same findings, not a new score. How it works
The model found several serious problems. That does not mean the stock will fall.
Biggest deductions
- Margin−12
- Multiples and peers−12
- Technology and business model−9
Strengths
- Insider ownership+2
- Issue at a premium+1
How the score is built
From 100 to 44, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 2 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 4.71 USD
- Median analyst target
- 14.75 USD
- Upside to median
- +213.2%
- Analysts
- 2
- Target range
- 14.50 – 15.00 USD
- 52-week change
- −38%
- P/E (trailing)
- n/a
- Forward P/E
- n/a
- PEG
- n/a
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 3 findings−27 of −30
- −12MarginRevenue USD 38,000 and operating loss USD 2.9m TTM; operating margin is -9,221%, and FCF -3.5m. The loss is counted only here.
- −9Technology and business modelAfter more than 10 years there are only small pilot plants (Jaffa in Israel, Port of Los Angeles pilot concluded); no commercial MW-scale plants have been built, and wave energy is not yet proven competitive against solar and wind.
- −6Quality of growthRevenue fell 77% in 2025 (from USD 168,000 to 38,000) and has swung between USD 26,000 and 306,000 since 2021 with no rising trend.
Price
Today's multiples against the company's own history and its peers. · 1 finding−12 of −35
- −12Multiples and peersP/S 959 and EV/Sales 778; P/B 4.7 vs 0.9–7.7 in 2021–25. Ocean Power Technologies has an EV of USD 11.6m with USD 4.3m in revenue (EV/Sales 2.7) – Eco Wave Power is priced on the story, not the numbers.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 4 findings−14 of −35
- −5Pipeline without fundingThe 404.7 MW pipeline is mostly MoUs and pre-feasibility studies (e.g. 8.3 MW in South Africa only feasibility, India only site assessment); Porto (1 MW) still lacks a construction start.
- −4Hype and price riskThe company markets itself on AI data centres and a mention in NVIDIA's keynote; the stock has fallen from USD 10 (the June 2026 issue) to 5.82 and −31% over 52 weeks, with a free float of only about 2.9m ADS.
- −3Future financingCash of USD 8.15m covers operations, but an MW-scale plant requires far more capital; the company has 300,000 warrants at USD 12 and must be expected to issue more shares.
- −2Small organizationOnly 13 employees and heavy dependence on the founders; limited capacity to execute projects on four continents simultaneously.
Plus
Only documented strengths. · 2 findings+3 of +15
- +2Insider ownershipInsiders (the founders) own approx. 46.7% according to stockanalysis, which gives strong alignment of interests.
- +1Issue at a premiumRegistered direct offering of USD 4.0m in June 2026 at USD 10 per ADS, 10.7% above the market price.
Caveats
What the score does not capture, or where the data is weak.
Penny deep dive (the price is above DKK 3). Eco Wave Power Global AB is a Swedish-Israeli wave energy company listed as ADS on Nasdaq. Price USD 5.82 and market cap USD 36.4m (about 6.24m ADS equivalents) from stockanalysis 2/10-2026; Nordnet showed DKK 242m. The industry 'Utilities & power' is the closest on the list (renewable energy technology without actual electricity sales yet). Revenue is negligible (USD 38,000 TTM), so all sales multiples are extreme. The pipeline figure of 404.7 MW consists mostly of agreements and MoUs, not funded projects. Option programmes and the precise ADS ratio have not been reviewed.
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