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

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

Wall Street Analysts Forecast Growth

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

Institutional Investors 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 acquired a new position in shares of Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 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. Institutional investors own 0.57% of the company’s stock.

Eco Wave Power Global AB (publ) Stock Up 2.1%

WAVE opened at $6.85 on Wednesday. The company has a market cap of $38.02 million, a price-to-earnings ratio of -10.70 and a beta of -0.46. Eco Wave Power Global AB has a 52-week low of $4.41 and a 52-week high of $9.87. The firm’s fifty day simple moving average is $5.39 and its two-hundred day simple moving average is $6.68.

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

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.