Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) Short Interest Down 27.4% in December

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 14,747 shares, a drop of 27.4% from the December 15th total of 20,308 shares. Based on an average daily volume of 11,758 shares, the short-interest ratio is presently 1.3 days. Approximately 0.3% of the shares of the stock are sold short. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 11,758 shares, the short-interest ratio is presently 1.3 days.

Eco Wave Power Global AB (publ) Price Performance

NASDAQ:WAVE traded down $0.09 during mid-day trading on Friday, hitting $5.75. 8,707 shares of the company’s stock traded hands, compared to its average volume of 8,853. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.80 and a current ratio of 2.80. The company has a market cap of $31.91 million, a PE ratio of -9.58 and a beta of -0.46. The firm’s 50 day simple moving average is $6.54 and its 200 day simple moving average is $7.48. Eco Wave Power Global AB has a 1 year low of $4.41 and a 1 year high of $11.29.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.08). The firm had revenue of $0.20 million for the quarter, compared to analyst estimates of $0.20 million.

Analysts Set New Price Targets

WAVE has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research report on Wednesday, October 8th. Wall Street Zen cut Eco Wave Power Global AB (publ) from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.50.

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.