Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) Short Interest Down 32.0% in January

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 10,031 shares, a decline of 32.0% from the December 31st total of 14,747 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 7,072 shares, the days-to-cover ratio is presently 1.4 days. Based on an average daily trading volume, of 7,072 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.2% of the shares of the company are short sold.

Eco Wave Power Global AB (publ) Price Performance

Shares of Eco Wave Power Global AB (publ) stock traded down $0.08 during trading hours on Friday, reaching $5.05. The stock had a trading volume of 14,597 shares, compared to its average volume of 9,432. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.01. Eco Wave Power Global AB has a twelve month low of $4.41 and a twelve month high of $10.25. The firm has a market capitalization of $28.02 million, a PE ratio of -8.42 and a beta of -0.46. The stock’s 50 day moving average is $6.08 and its 200 day moving average is $7.38.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.08). The business had revenue of $0.20 million during the quarter, compared to the consensus estimate of $0.20 million.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wall Street Zen cut Eco Wave Power Global AB (publ) from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Eco Wave Power Global AB (publ) has a consensus rating of “Hold” and an average price target of $14.50.

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.