Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) Short Interest Update

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) saw a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 10,574 shares, an increase of 57.5% from the May 14th total of 6,715 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 34,937 shares, the days-to-cover ratio is presently 0.3 days.

Eco Wave Power Global AB (publ) Price Performance

Shares of NASDAQ:WAVE opened at $7.67 on Tuesday. Eco Wave Power Global AB has a 1-year low of $4.41 and a 1-year high of $10.50. The firm’s 50 day simple moving average is $7.80 and its two-hundred day simple moving average is $6.49. The company has a market capitalization of $42.54 million, a P/E ratio of -11.27 and a beta of -0.38.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC lifted its position in shares of Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) by 60.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,396 shares of the company’s stock after buying an additional 8,035 shares during the quarter. SmartHarvest Portfolios LLC owned approximately 0.37% of Eco Wave Power Global AB (publ) worth $135,000 at the end of the most recent quarter. 0.57% of the stock is currently owned by institutional investors.

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.