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

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) was the target of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 715 shares, a decrease of 82.4% from the January 29th total of 4,067 shares. Based on an average daily volume of 11,242 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are short sold. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 11,242 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Eco Wave Power Global AB (publ) presently has a consensus rating of “Hold” and a consensus target price of $15.00.

Eco Wave Power Global AB (publ) Stock Performance

Shares of WAVE stock opened at $4.78 on Friday. The firm’s 50 day moving average is $5.40 and its 200 day moving average is $6.95. The stock has a market capitalization of $26.53 million, a P/E ratio of -7.97 and a beta of -0.46. Eco Wave Power Global AB has a 12 month low of $4.41 and a 12 month high of $9.87. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.01.

Institutional Trading of 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) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 and Exchange Commission. 0.57% of the stock is currently owned by institutional investors.

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.