Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) Sees Large Decrease in Short Interest

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) was the target of a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 14,971 shares, a decline of 53.4% from the July 15th total of 32,098 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 28,249 shares, the short-interest ratio is presently 0.5 days.

Analysts Set New Price Targets

A number of equities analysts have commented on WAVE shares. Wall Street Zen upgraded Eco Wave Power Global AB (publ) to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Eco Wave Power Global AB (publ) currently has a consensus rating of “Sell”.

Eco Wave Power Global AB (publ) Price Performance

Shares of NASDAQ:WAVE opened at $7.15 on Friday. The company’s 50 day simple moving average is $8.17 and its 200 day simple moving average is $7.13. The stock has a market capitalization of $39.68 million, a price-to-earnings ratio of -11.92 and a beta of -0.35. Eco Wave Power Global AB has a 1 year low of $4.52 and a 1 year high of $10.87.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.02.

Institutional Trading of Eco Wave Power Global AB (publ)

An institutional investor recently bought a new stake in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC bought a new stake in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 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) as of its most recent SEC filing. Hedge funds and other institutional investors own 0.57% of the company’s stock.

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.