Short Interest in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) Declines By 32.0%

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) was the recipient of a large decline in short interest in January. As of January 15th, there was short interest totaling 10,031 shares, a decline of 32.0% from the December 31st total of 14,747 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 7,072 shares, the short-interest ratio is presently 1.4 days. Based on an average trading volume of 7,072 shares, the short-interest ratio is presently 1.4 days. Currently, 0.2% of the company’s stock are short sold.

Eco Wave Power Global AB (publ) Price Performance

Shares of WAVE stock opened at $5.05 on Monday. Eco Wave Power Global AB has a fifty-two week low of $4.41 and a fifty-two week high of $10.25. 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 firm has a market capitalization of $28.03 million, a price-to-earnings ratio of -8.42 and a beta of -0.46. The stock’s 50-day simple moving average is $6.08 and its 200-day simple moving average is $7.39.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last released its earnings results on Wednesday, November 12th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates 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.

Wall Street Analyst Weigh In

WAVE has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research note on Wednesday, January 21st. Wall Street Zen downgraded shares of Eco Wave Power Global AB (publ) from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Eco Wave Power Global AB (publ) has a consensus rating of “Hold” and an average target price of $14.50.

Eco Wave Power Global AB (publ) Company Profile

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.