Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) Sees Large Drop 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 January. As of January 15th, there was short interest totaling 10,031 shares, a drop of 32.0% from the December 31st total of 14,747 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 7,072 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily trading volume, of 7,072 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.2% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WAVE. Weiss Ratings reissued a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research report on Wednesday, January 21st. Wall Street Zen lowered Eco Wave Power Global AB (publ) from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.50.

Eco Wave Power Global AB (publ) Stock Performance

Shares of NASDAQ:WAVE opened at $5.05 on Friday. The business’s 50-day simple moving average is $6.08 and its 200 day simple moving average is $7.37. The company has a market cap of $28.03 million, a P/E ratio of -8.42 and a beta of -0.46. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.80 and a current ratio of 2.80. Eco Wave Power Global AB has a one year low of $4.41 and a one year high of $10.25.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.08). The business had revenue of $0.20 million for the quarter, compared to the consensus estimate of $0.20 million.

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.