Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) Short Interest Down 53.4% in July

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 14,971 shares, a decrease of 53.4% from the July 15th total of 32,098 shares. Based on an average trading volume of 28,249 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.3% of the shares of the stock are short sold.

Eco Wave Power Global AB (publ) Stock Up 1.0%

WAVE stock opened at $7.15 on Friday. Eco Wave Power Global AB has a twelve month low of $4.52 and a twelve month high of $10.87. The company has a market cap of $39.68 million, a P/E ratio of -11.92 and a beta of -0.35. The business’s fifty day moving average is $8.17 and its 200-day moving average is $7.13.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02.

Analyst Ratings Changes

WAVE has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research report on Friday, July 17th. Wall Street Zen raised Eco Wave Power Global AB (publ) to a “hold” rating in a research note on Saturday, July 25th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Hedge Funds Weigh In On Eco Wave Power Global AB (publ)

An institutional investor recently bought a new stake in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC acquired a new stake in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. 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 SEC filing. 0.57% of the stock is currently owned by hedge funds and other 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.