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) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 4,728 shares, an increase of 211.5% from the February 26th total of 1,518 shares. Based on an average daily volume of 8,695 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.1% of the shares of the company are short sold. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 8,695 shares, the days-to-cover ratio is currently 0.5 days.

Eco Wave Power Global AB (publ) Trading Up 2.1%

Eco Wave Power Global AB (publ) stock opened at $6.85 on Wednesday. The firm has a market cap of $38.02 million, a PE ratio of -10.70 and a beta of -0.46. Eco Wave Power Global AB has a 12 month low of $4.41 and a 12 month high of $9.87. The stock’s 50 day simple moving average is $5.39 and its two-hundred day simple moving average is $6.68.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last posted its earnings results on Thursday, March 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.01. The firm had revenue of $0.04 million during the quarter.

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 note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Eco Wave Power Global AB (publ) presently has an average rating of “Sell”.

Institutional Investors Weigh In On 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 bought a new stake in shares of Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 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) as of its most recent SEC filing. Institutional investors own 0.57% of the company’s stock.

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.