Short Interest in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) Drops By 46.4%

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 2,535 shares, a drop of 46.4% from the March 15th total of 4,728 shares. Based on an average daily volume of 15,526 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the stock are sold short.

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 investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC purchased a new position in shares of Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,361 shares of the company’s stock, valued at approximately $78,000. SmartHarvest Portfolios LLC owned 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) Stock Performance

Shares of Eco Wave Power Global AB (publ) stock opened at $6.18 on Wednesday. The firm has a market capitalization of $36.07 million, a price-to-earnings ratio of -9.65 and a beta of -0.57. Eco Wave Power Global AB has a fifty-two week low of $4.41 and a fifty-two week high of $9.87. The stock has a 50 day moving average of $5.60 and a 200 day moving average of $6.39.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.01.

About Eco Wave Power Global AB (publ)

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.