Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) Short Interest Down 61.4% in July

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) saw a large decrease in short interest in July. As of July 15th, there was short interest totaling 32,098 shares, a decrease of 61.4% from the June 30th total of 83,170 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 25,927 shares, the days-to-cover ratio is currently 1.2 days.

Eco Wave Power Global AB (publ) Trading Down 3.1%

WAVE opened at $7.38 on Wednesday. The stock’s 50-day moving average price is $8.64 and its 200 day moving average price is $7.00. Eco Wave Power Global AB has a 12-month low of $4.52 and a 12-month high of $10.87. The firm has a market cap of $40.93 million, a price-to-earnings ratio of -10.85 and a beta of -0.38.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last announced its earnings results on Thursday, May 7th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.02.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wall Street Zen upgraded Eco Wave Power Global AB (publ) to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Hedge Funds 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 acquired a new position in shares of Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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) as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 0.57% of the company’s stock.

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.