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

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

Analyst Upgrades and Downgrades

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

Eco Wave Power Global AB (publ) Price Performance

WAVE stock opened at $5.07 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.80 and a current ratio of 2.80. The company’s fifty day moving average price is $5.71 and its 200-day moving average price is $7.19. Eco Wave Power Global AB has a one year low of $4.41 and a one year high of $9.88. The company has a market capitalization of $28.14 million, a PE ratio of -8.45 and a beta of -0.46.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.16) earnings per share 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.

Hedge Funds Weigh In On Eco Wave Power Global AB (publ)

An institutional investor recently bought a new position in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC purchased a new stake in shares of Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 13,361 shares of the company’s stock, valued at approximately $78,000. SmartHarvest Portfolios LLC owned approximately 0.24% of Eco Wave Power Global AB (publ) at the end of the most recent quarter. Hedge funds and other institutional investors own 0.57% of the company’s stock.

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.