Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE) Short Interest Up 38.9% in August

Key Points

• Eco Wave Power Global AB (NASDAQ:WAVE) experienced a significant increase in short interest of 38.9% in August, rising from 17,500 to 24,300 shares.
• The company reported a net loss of ($0.24) EPS, missing analysts' estimates of ($0.13) for the quarter ending August 14th.
• Currently, Eco Wave Power has a market capitalization of $52.78 million and an average analyst rating of "Buy" with a consensus target price of $14.50.

Eco Wave Power Global AB (publ) Unsponsored ADR (NASDAQ:WAVE - Get Free Report) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 24,300 shares, an increase of 38.9% from the August 15th total of 17,500 shares. Based on an average trading volume of 23,400 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.4% of the shares of the company are short sold. Approximately 0.4% of the shares of the company are short sold. Based on an average trading volume of 23,400 shares, the days-to-cover ratio is currently 1.0 days.

Eco Wave Power Global AB (publ) Price Performance

Shares of Eco Wave Power Global AB (publ) stock opened at $9.51 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.38 and a quick ratio of 3.38. The business's 50 day simple moving average is $8.00 and its two-hundred day simple moving average is $6.92. The stock has a market capitalization of $52.78 million, a P/E ratio of -17.61 and a beta of -0.48. Eco Wave Power Global AB has a one year low of $3.35 and a one year high of $17.63.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.11). The business had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.10 million.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Eco Wave Power Global AB (publ) from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Eco Wave Power Global AB (publ) currently has an average rating of "Buy" and a consensus target price of $14.50.

Eco Wave Power Global AB (publ) Company Profile

Eco Wave Power Global AB (publ), a wave energy company, engages in the development of a wave energy conversion (WEC) technology that converts ocean and sea waves into clean electricity. The company also holds various agreements comprising power purchase agreements, concession agreements, and other agreements worldwide with pipeline of projects with approximately 404.7 megawatts.

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