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 large 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 trading volume, of 11,758 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.3% of the company’s shares are short sold. Currently, 0.3% of the company’s shares are short sold. Based on an average daily trading volume, of 11,758 shares, the days-to-cover ratio is currently 1.3 days.

Eco Wave Power Global AB (publ) Stock Performance

WAVE opened at $5.75 on Friday. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.01. Eco Wave Power Global AB has a 12-month low of $4.41 and a 12-month high of $11.29. The firm has a 50 day moving average of $6.54 and a two-hundred day moving average of $7.47. The firm has a market capitalization of $31.91 million, a PE ratio of -9.58 and a beta of -0.46.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last released its quarterly earnings data 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.

Wall Street Analyst Weigh In

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

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.