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) was the recipient of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 1,518 shares, a growth of 112.3% from the February 12th total of 715 shares. Based on an average trading volume of 8,528 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the shares of the stock are sold short. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 8,528 shares, the days-to-cover ratio is presently 0.2 days.

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 Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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. Institutional investors own 0.57% of the company’s stock.

Eco Wave Power Global AB (publ) Price Performance

Shares of Eco Wave Power Global AB (publ) stock opened at $6.09 on Thursday. The stock has a market capitalization of $33.80 million, a P/E ratio of -10.15 and a beta of -0.46. The business has a 50 day simple moving average of $5.33 and a two-hundred day simple moving average of $6.82. Eco Wave Power Global AB has a 12 month low of $4.41 and a 12 month high of $9.87. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.80 and a quick ratio of 2.80.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Eco Wave Power Global AB (publ) 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.