Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) Short Interest Update

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) was the recipient of a large increase in short interest in March. As of March 13th, there was short interest totaling 4,728 shares, an increase of 211.5% from the February 26th total of 1,518 shares. Based on an average daily volume of 8,695 shares, the short-interest ratio is presently 0.5 days. Approximately 0.1% of the company’s shares are sold short.

Eco Wave Power Global AB (publ) Price Performance

NASDAQ:WAVE opened at $6.31 on Friday. The stock has a market cap of $35.02 million, a PE ratio of -9.86 and a beta of -0.46. 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’s 50-day moving average is $5.41 and its two-hundred day moving average is $6.68.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. The company had revenue of $0.04 million during the quarter.

Analysts Set New Price Targets

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

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 shares of Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 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. 0.57% of the stock is owned by hedge funds and other institutional investors.

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.