Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) Sees Significant Growth in Short Interest

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) was the recipient of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 1,518 shares, an increase of 112.3% from the February 12th total of 715 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 8,528 shares, the short-interest ratio is presently 0.2 days. Based on an average daily trading volume, of 8,528 shares, the short-interest ratio is presently 0.2 days. Approximately 0.0% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Hedge Funds Weigh In On Eco Wave Power Global AB (publ)

An institutional investor recently bought a new position in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC bought a new stake in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,361 shares of the company’s stock, valued at approximately $78,000. SmartHarvest Portfolios LLC owned about 0.24% of Eco Wave Power Global AB (publ) at the end of the most recent quarter. Institutional investors and hedge funds own 0.57% of the company’s stock.

Eco Wave Power Global AB (publ) Price Performance

Shares of WAVE opened at $5.89 on Friday. The company’s 50-day moving average is $5.32 and its 200-day moving average is $6.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.80 and a quick ratio of 2.80. The firm has a market capitalization of $32.69 million, a PE ratio of -9.20 and a beta of -0.46. Eco Wave Power Global AB has a fifty-two week low of $4.41 and a fifty-two week high of $9.87.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last released its quarterly earnings results on Monday, March 16th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.01. The business had revenue of $0.04 million during the quarter.

Eco Wave Power Global AB (publ) Company Profile

Eco Wave Power Global AB (publ) develops and commercializes technology that harnesses the energy of ocean and sea waves to generate electricity. The company’s modular, floating wave energy converters attach to existing maritime structures such as breakwaters and piers, converting vertical wave motion into electrical power through hydraulic systems and generators. This approach is designed to minimize environmental impact while delivering a predictable renewable energy source.

Founded in 2011 by CEO Inna Braverman, Eco Wave Power has secured patent protection for its core wave energy technology and completed its first grid-connected installation in Gibraltar in 2016.