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

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 2,282 shares, a decrease of 80.2% from the August 31st total of 11,539 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 25,583 shares, the short-interest ratio is presently 0.1 days.

Institutional Trading of Eco Wave Power Global AB (publ)

A hedge fund recently bought a new position in Eco Wave Power Global AB (publ) stock. Connective Capital Management LLC bought a new stake in Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 32,234 shares of the company’s stock, valued at approximately $292,000. Connective Capital Management LLC owned 0.58% of Eco Wave Power Global AB (publ) 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) Trading Down 0.7%

WAVE stock traded down $0.04 during trading on Friday, hitting $6.05. 7,783 shares of the company’s stock were exchanged, compared to its average volume of 21,396. The business has a 50-day moving average price of $6.70 and a two-hundred day moving average price of $7.37. The stock has a market capitalization of $33.58 million, a price-to-earnings ratio of -10.08 and a beta of -0.37. Eco Wave Power Global AB has a 52-week low of $4.52 and a 52-week high of $10.87.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WAVE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eco Wave Power Global AB (publ) in a research note on Friday, July 17th. Alliance Global Partners raised Eco Wave Power Global AB (publ) to a “strong-buy” rating in a research report on Friday, August 14th. Finally, Wall Street Zen upgraded Eco Wave Power Global AB (publ) to a “hold” rating in a research note on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Eco Wave Power Global AB (publ) currently has an average rating of “Moderate Buy”.

Eco Wave Power Global AB (publ) Company Profile

Eco Wave Power Global AB (publ) is a renewable-energy technology company that develops systems designed to generate electricity from ocean and sea waves. Its wave-energy conversion technology is intended for installation on existing marine structures, such as breakwaters, piers and seawalls, rather than requiring offshore construction of large standalone facilities.

The company’s system uses floating units that rise and fall with wave movement. This motion is transferred to land-based equipment, where hydraulic mechanisms drive generators to produce electricity.