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

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) saw a significant decrease in short interest in July. As of July 15th, there was short interest totaling 32,098 shares, a decrease of 61.4% from the June 30th total of 83,170 shares. Based on an average daily volume of 25,927 shares, the short-interest ratio is presently 1.2 days. Approximately 0.8% of the company’s shares are sold short.

Eco Wave Power Global AB (publ) Price Performance

NASDAQ:WAVE opened at $7.82 on Monday. The company has a fifty day simple moving average of $8.72 and a two-hundred day simple moving average of $6.98. The company has a market cap of $43.40 million, a price-to-earnings ratio of -11.50 and a beta of -0.38. Eco Wave Power Global AB has a 52 week low of $4.52 and a 52 week high of $10.87.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.02.

Institutional Investors Weigh In On Eco Wave Power Global AB (publ)

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wall Street Zen upgraded Eco Wave Power Global AB (publ) to a “hold” rating in a research report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Eco Wave Power Global AB (publ) currently has an average rating of “Sell”.

About Eco Wave Power Global AB (publ)

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.