Short Interest in Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Rises By 30.4%

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 42,000 shares, an increase of 30.4% from the February 13th total of 32,200 shares. Based on an average daily volume of 66,900 shares, the short-interest ratio is presently 0.6 days. Currently, 0.8% of the shares of the company are sold short.

Institutional Trading of Eco Wave Power Global AB (publ)

A number of hedge funds and other institutional investors have recently bought and sold shares of WAVE. IPG Investment Advisors LLC increased its holdings in shares of Eco Wave Power Global AB (publ) by 161.3% in the 4th quarter. IPG Investment Advisors LLC now owns 30,050 shares of the company’s stock worth $331,000 after buying an additional 18,550 shares during the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Eco Wave Power Global AB (publ) in the 4th quarter worth $330,000. Steward Partners Investment Advisory LLC bought a new position in shares of Eco Wave Power Global AB (publ) in the 4th quarter worth $30,000. Catalina Capital Group LLC increased its holdings in shares of Eco Wave Power Global AB (publ) by 22.2% in the 4th quarter. Catalina Capital Group LLC now owns 23,338 shares of the company’s stock worth $257,000 after buying an additional 4,239 shares during the last quarter. Finally, Veracity Capital LLC bought a new position in shares of Eco Wave Power Global AB (publ) in the 4th quarter worth $392,000. Institutional investors own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WAVE. Maxim Group began coverage on shares of Eco Wave Power Global AB (publ) in a research report on Tuesday, March 11th. They issued a “buy” rating and a $15.00 price target on the stock. Alliance Global Partners initiated coverage on shares of Eco Wave Power Global AB (publ) in a report on Monday, February 3rd. They set a “buy” rating and a $14.00 target price on the stock.

Eco Wave Power Global AB (publ) Stock Performance

Eco Wave Power Global AB (publ) stock opened at $7.44 on Wednesday. The firm’s 50 day simple moving average is $8.56 and its 200 day simple moving average is $8.48. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $41.28 million, a PE ratio of -17.30 and a beta of -0.69. Eco Wave Power Global AB has a 1-year low of $1.01 and a 1-year high of $17.63.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last posted its earnings results on Monday, March 3rd. The company reported ($0.12) earnings per share for the quarter. The company had revenue of $0.17 million for the quarter.

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.