Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) Short Interest Up 17.2% in April

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) was the target of a large growth in short interest in April. As of April 15th, there was short interest totaling 2,970 shares, a growth of 17.2% from the March 31st total of 2,535 shares. Based on an average daily trading volume, of 8,945 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the shares of the stock are sold short.

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

A hedge fund recently raised its stake in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC boosted its holdings in shares of Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) by 60.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,396 shares of the company’s stock after buying an additional 8,035 shares during the quarter. SmartHarvest Portfolios LLC owned approximately 0.37% of Eco Wave Power Global AB (publ) worth $135,000 as of its most recent SEC filing. Institutional investors and hedge funds own 0.57% of the company’s stock.

Eco Wave Power Global AB (publ) Price Performance

Shares of NASDAQ WAVE opened at $6.88 on Friday. The company has a market cap of $40.18 million, a P/E ratio of -10.75 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 $9.87. The firm has a 50-day simple moving average of $6.07 and a two-hundred day simple moving average of $6.31.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.01.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research report on Monday, April 20th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

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.