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

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) was the recipient of 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. Based on an average trading volume of 34,937 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.2% of the shares of the stock are sold short.

Eco Wave Power Global AB (publ) Stock Performance

Shares of NASDAQ:WAVE opened at $7.67 on Tuesday. The firm has a fifty day moving average price of $7.80 and a 200 day moving average price of $6.49. Eco Wave Power Global AB has a fifty-two week low of $4.41 and a fifty-two week high of $10.50. The firm has a market cap of $42.54 million, a price-to-earnings ratio of -11.27 and a beta of -0.38.

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

Institutional Trading of Eco Wave Power Global AB (publ)

An institutional investor recently bought a new position in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC acquired a new position in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 13,361 shares of the company’s stock, valued at approximately $78,000. SmartHarvest Portfolios LLC owned about 0.24% of Eco Wave Power Global AB (publ) at the end of the most recent reporting period. Institutional investors own 0.57% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research report on Monday, April 20th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average 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.