Short Interest in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) Decreases By 82.4%

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) was the target of a significant decline in short interest in February. As of February 13th, there was short interest totaling 715 shares, a decline of 82.4% from the January 29th total of 4,067 shares. Based on an average daily trading volume, of 11,242 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s stock are sold short. Currently, 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 11,242 shares, the days-to-cover ratio is presently 0.1 days.

Eco Wave Power Global AB (publ) Stock Performance

WAVE traded up $0.13 during trading on Wednesday, hitting $4.90. The stock had a trading volume of 6,642 shares, compared to its average volume of 10,662. The firm has a market cap of $27.20 million, a PE ratio of -8.17 and a beta of -0.46. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.01. Eco Wave Power Global AB has a 12 month low of $4.41 and a 12 month high of $9.87. The company has a 50 day simple moving average of $5.42 and a 200-day simple moving average of $6.97.

Institutional Trading of 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 bought a new stake in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,361 shares of the company’s stock, valued at approximately $78,000. SmartHarvest Portfolios LLC owned about 0.24% of Eco Wave Power Global AB (publ) as of its most recent SEC filing. Institutional investors own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research note on Wednesday, January 21st. One research analyst has 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 currently has an average rating of “Hold” and an average price target 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.