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

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 18,000 shares, a decline of 28.3% from the September 30th total of 25,100 shares. Based on an average trading volume of 29,500 shares, the short-interest ratio is currently 0.6 days. Approximately 0.3% of the company’s shares are short sold. Approximately 0.3% of the company’s shares are short sold. Based on an average trading volume of 29,500 shares, the short-interest ratio is currently 0.6 days.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered Eco Wave Power Global AB (publ) from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.50.

Eco Wave Power Global AB (publ) Trading Down 6.0%

WAVE opened at $6.92 on Wednesday. The business has a 50 day simple moving average of $8.32 and a two-hundred day simple moving average of $7.28. The firm has a market capitalization of $38.40 million, a price-to-earnings ratio of -12.81 and a beta of -0.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.38 and a quick ratio of 3.38. Eco Wave Power Global AB has a one year low of $4.41 and a one year high of $17.63.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.11). The business had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.10 million.

Eco Wave Power Global AB (publ) Company Profile

Eco Wave Power Global AB (publ), a wave energy company, engages in the development of a wave energy conversion (WEC) technology that converts ocean and sea waves into clean electricity. The company also holds various agreements comprising power purchase agreements, concession agreements, and other agreements worldwide with pipeline of projects with approximately 404.7 megawatts.