Short Interest in Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Increases By 62.6%

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 32,200 shares, an increase of 62.6% from the January 31st total of 19,800 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 76,200 shares, the short-interest ratio is presently 0.4 days.

Eco Wave Power Global AB (publ) Stock Down 1.7 %

WAVE stock opened at $7.38 on Tuesday. The stock has a fifty day moving average of $9.56 and a 200-day moving average of $8.20. Eco Wave Power Global AB has a fifty-two week low of $1.01 and a fifty-two week high of $17.63. The company has a market capitalization of $40.95 million, a price-to-earnings ratio of -17.16 and a beta of -0.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.26 and a current ratio of 3.26.

Analysts Set New Price Targets

Separately, Alliance Global Partners began coverage on Eco Wave Power Global AB (publ) in a research note on Monday, February 3rd. They issued a “buy” rating and a $14.00 price objective on the stock.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WAVE. Steward Partners Investment Advisory LLC purchased a new stake in shares of Eco Wave Power Global AB (publ) during the 4th quarter valued at approximately $30,000. Catalina Capital Group LLC purchased a new stake in shares of Eco Wave Power Global AB (publ) during the third quarter worth $113,000. Commonwealth Equity Services LLC purchased a new stake in shares of Eco Wave Power Global AB (publ) during the fourth quarter worth $330,000. IPG Investment Advisors LLC boosted its holdings in shares of Eco Wave Power Global AB (publ) by 161.3% in the fourth quarter. IPG Investment Advisors LLC now owns 30,050 shares of the company’s stock worth $331,000 after acquiring an additional 18,550 shares during the period. Finally, Veracity Capital LLC bought a new stake in shares of Eco Wave Power Global AB (publ) during the 4th quarter valued at $392,000. Institutional investors own 0.57% of the company’s stock.

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.