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

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) was the recipient of a large decrease in short interest in January. As of January 30th, there was short interest totaling 4,067 shares, a decrease of 59.5% from the January 15th total of 10,031 shares. Based on an average daily trading volume, of 13,022 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the shares of the company are sold short. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 13,022 shares, the days-to-cover ratio is currently 0.3 days.

Eco Wave Power Global AB (publ) Trading Down 7.7%

Eco Wave Power Global AB (publ) stock opened at $5.00 on Thursday. The firm’s 50 day moving average price is $5.75 and its 200-day moving average price is $7.20. Eco Wave Power Global AB has a 1 year low of $4.41 and a 1 year high of $9.88. The stock has a market cap of $27.75 million, a P/E ratio of -8.33 and a beta of -0.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.80 and a quick ratio of 2.80.

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

Analyst Ratings Changes

A number of research firms recently issued reports on WAVE. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research report on Wednesday, January 21st. Wall Street Zen downgraded shares of Eco Wave Power Global AB (publ) from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.00.

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.