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) was the target of a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 32,098 shares, a drop of 61.4% from the June 30th total of 83,170 shares. Based on an average trading volume of 25,927 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.8% of the company’s shares are short sold.

Eco Wave Power Global AB (publ) Price Performance

NASDAQ:WAVE opened at $7.82 on Monday. Eco Wave Power Global AB has a 52 week low of $4.52 and a 52 week high of $10.87. The company has a market capitalization of $43.40 million, a P/E ratio of -11.50 and a beta of -0.38. The stock’s fifty day moving average is $8.72 and its two-hundred day moving average is $6.98.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC acquired a new position in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) during the 4th quarter, according to its most recent 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 about 0.24% of Eco Wave Power Global AB (publ) as of its most recent filing with the Securities and 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.