Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) Short Interest Down 59.5% in January

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) saw a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 4,067 shares, a decrease of 59.5% from the January 15th total of 10,031 shares. Based on an average trading volume of 13,022 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the company’s stock are sold short. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 13,022 shares, the days-to-cover ratio is presently 0.3 days.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WAVE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research report on Wednesday, January 21st. Wall Street Zen lowered Eco Wave Power Global AB (publ) from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Eco Wave Power Global AB (publ) currently has an average rating of “Hold” and a consensus target price of $15.00.

Eco Wave Power Global AB (publ) Trading Down 7.7%

Eco Wave Power Global AB (publ) stock opened at $5.00 on Thursday. 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 stock has a market cap of $27.75 million, a PE ratio of -8.33 and a beta of -0.46. The stock has a 50-day moving average of $5.75 and a two-hundred day moving average of $7.20. Eco Wave Power Global AB has a one year low of $4.41 and a one year high of $9.88.

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

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.