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

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

Institutional Trading of Eco Wave Power Global AB (publ)

A hedge fund 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 disclosure with the Securities & Exchange Commission. 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. 0.57% of the stock is currently owned by institutional investors.

Eco Wave Power Global AB (publ) Trading Up 0.2%

Shares of Eco Wave Power Global AB (publ) stock traded up $0.02 on Friday, reaching $8.92. 40,728 shares of the stock were exchanged, compared to its average volume of 169,867. Eco Wave Power Global AB has a 1-year low of $4.52 and a 1-year high of $10.87. The business has a fifty day moving average price of $8.66 and a two-hundred day moving average price of $6.78. The firm has a market capitalization of $49.51 million, a PE ratio of -13.12 and a beta of -0.38.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a report on Monday, April 20th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

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.