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

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) was the recipient of a large increase in short interest in 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. Approximately 0.8% of the company’s stock are sold short. Based on an average trading volume of 66,900 shares, the short-interest ratio is currently 0.6 days.

Eco Wave Power Global AB (publ) Stock Down 4.5 %

WAVE opened at $7.68 on Tuesday. Eco Wave Power Global AB has a fifty-two week low of $1.01 and a fifty-two week high of $17.63. The business has a 50-day moving average of $8.61 and a 200-day moving average of $8.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.26 and a quick ratio of 3.26. The company has a market capitalization of $42.62 million, a PE ratio of -17.86 and a beta of -0.69.

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

Wall Street Analyst Weigh In

WAVE has been the subject of several research analyst reports. Alliance Global Partners initiated 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 for the company. Maxim Group initiated coverage on Eco Wave Power Global AB (publ) in a research report on Tuesday, March 11th. They issued a “buy” rating and a $15.00 target price on the stock.

Institutional Investors Weigh In On Eco Wave Power Global AB (publ)

A number of hedge funds and other institutional investors have recently made changes to their positions in WAVE. Veracity Capital LLC bought a new position in shares of Eco Wave Power Global AB (publ) in the 4th quarter valued at approximately $392,000. IPG Investment Advisors LLC raised its stake 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 valued at $331,000 after acquiring an additional 18,550 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Eco Wave Power Global AB (publ) in the 4th quarter valued at approximately $330,000. Catalina Capital Group LLC raised its stake 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 valued at $257,000 after acquiring an additional 4,239 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of Eco Wave Power Global AB (publ) in the 4th quarter valued at approximately $30,000. 0.57% of the stock is owned by hedge funds and other institutional investors.

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.