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

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) was the target of a significant decline in short interest during the month of 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. Based on an average trading volume of 7,072 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.2% of the company’s stock are sold short. Currently, 0.2% of the company’s stock are sold short. Based on an average trading volume of 7,072 shares, the days-to-cover ratio is presently 1.4 days.

Eco Wave Power Global AB (publ) Stock Down 1.6%

WAVE stock opened at $5.05 on Friday. The firm has a market cap of $28.03 million, a price-to-earnings ratio of -8.42 and a beta of -0.46. Eco Wave Power Global AB has a 1-year low of $4.41 and a 1-year high of $10.25. The firm has a fifty day moving average price of $6.08 and a two-hundred day moving average price of $7.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.80 and a quick ratio of 2.80.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last issued its earnings results on Wednesday, November 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). The business had revenue of $0.20 million for the quarter, compared to analysts’ expectations of $0.20 million.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WAVE shares. 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 reiterated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to 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.