Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) Short Interest Update

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 83,170 shares, a growth of 568.0% from the June 15th total of 12,451 shares. Based on an average daily trading volume, of 305,495 shares, the days-to-cover ratio is presently 0.3 days. Approximately 2.2% of the shares of the stock are short sold.

Eco Wave Power Global AB (publ) Stock Up 1.9%

Shares of Eco Wave Power Global AB (publ) stock traded up $0.17 on Monday, hitting $9.09. 4,767 shares of the company were exchanged, compared to its average volume of 40,305. The company has a 50-day moving average price of $8.66 and a 200 day moving average price of $6.78. The stock has a market capitalization of $50.45 million, a price-to-earnings ratio of -13.37 and a beta of -0.38. Eco Wave Power Global AB has a 1-year low of $4.52 and a 1-year high of $10.87.

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

Institutional Inflows and Outflows

A hedge fund recently raised its position in Eco Wave Power Global AB (publ) stock. SmartHarvest Portfolios LLC increased its stake in shares of Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) by 60.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 21,396 shares of the company’s stock after purchasing an additional 8,035 shares during the period. SmartHarvest Portfolios LLC owned approximately 0.37% of Eco Wave Power Global AB (publ) worth $135,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated 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 data from MarketBeat.com, Eco Wave Power Global AB (publ) 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.