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

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) was the target of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 27,900 shares, a decrease of 33.6% from the February 28th total of 42,000 shares. Based on an average daily volume of 46,200 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.5% of the company’s stock are sold short.

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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Veracity Capital LLC bought a new stake in shares of Eco Wave Power Global AB (publ) in the fourth quarter valued at about $392,000. IPG Investment Advisors LLC increased its stake in Eco Wave Power Global AB (publ) by 161.3% during the fourth 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 during the period. Steward Partners Investment Advisory LLC acquired a new position in Eco Wave Power Global AB (publ) in the 4th quarter valued at approximately $30,000. Catalina Capital Group LLC lifted its position 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 acquiring an additional 4,239 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Eco Wave Power Global AB (publ) during the 4th quarter worth approximately $330,000. Institutional investors and hedge funds own 0.57% of the company’s stock.

Eco Wave Power Global AB (publ) Stock Down 8.1 %

Eco Wave Power Global AB (publ) stock opened at $6.25 on Monday. The company has a market capitalization of $34.68 million, a P/E ratio of -14.53 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. The firm’s fifty day simple moving average is $8.16 and its 200-day simple moving average is $8.66. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 0.01.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on WAVE shares. Maxim Group assumed coverage on shares of Eco Wave Power Global AB (publ) in a research note on Tuesday, March 11th. They set a “buy” rating and a $15.00 target price for the company. Alliance Global Partners started coverage on Eco Wave Power Global AB (publ) in a research report on Monday, February 3rd. They set a “buy” rating and a $14.00 price objective for the company.

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.