Short Interest in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) Rises By 568.0%

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 83,170 shares, a growth of 568.0% from the June 15th total of 12,451 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily volume of 305,495 shares, the days-to-cover ratio is presently 0.3 days.

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

An institutional investor recently bought a new stake in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC acquired a new position in shares of Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,361 shares of the company’s stock, valued at approximately $78,000. SmartHarvest Portfolios LLC owned approximately 0.24% of Eco Wave Power Global AB (publ) at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.57% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research report on Monday, April 20th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Eco Wave Power Global AB (publ) currently has a consensus rating of “Sell”.

Eco Wave Power Global AB (publ) Stock Performance

Eco Wave Power Global AB (publ) stock traded up $0.17 during midday trading on Monday, reaching $9.09. The stock had a trading volume of 4,362 shares, compared to its average volume of 40,293. The stock’s 50-day simple moving average is $8.66 and its 200 day simple moving average is $6.78. Eco Wave Power Global AB has a twelve month low of $4.52 and a twelve month high of $10.87. The stock has a market capitalization of $50.44 million, a PE ratio of -13.37 and a beta of -0.38.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02.

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.