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

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 4,728 shares, a growth of 211.5% from the February 26th total of 1,518 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 8,695 shares, the days-to-cover ratio is presently 0.5 days.

Analyst Upgrades and Downgrades

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 analyst has rated the stock with a Sell rating, According to data from MarketBeat, Eco Wave Power Global AB (publ) has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake 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 fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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) at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.57% of the company’s stock.

Eco Wave Power Global AB (publ) Stock Performance

NASDAQ:WAVE opened at $6.26 on Thursday. Eco Wave Power Global AB has a 52 week low of $4.41 and a 52 week high of $9.87. The firm has a 50-day moving average price of $5.40 and a two-hundred day moving average price of $6.68. The firm has a market cap of $34.74 million, a price-to-earnings ratio of -9.78 and a beta of -0.46.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last announced its earnings results on Thursday, March 12th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates 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.