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 large growth in short interest in February. As of February 28th, there was short interest totalling 42,000 shares, a growth 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 currently 0.6 days. Approximately 0.8% of the company’s shares are short sold.

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

Several institutional investors have recently added to or reduced their stakes in WAVE. Veracity Capital LLC purchased a new stake in Eco Wave Power Global AB (publ) during the 4th quarter valued at $392,000. Commonwealth Equity Services LLC purchased a new stake in Eco Wave Power Global AB (publ) during the 4th quarter valued at $330,000. IPG Investment Advisors LLC boosted its position in Eco Wave Power Global AB (publ) by 161.3% during the 4th quarter. IPG Investment Advisors LLC now owns 30,050 shares of the company’s stock valued at $331,000 after buying an additional 18,550 shares during the period. Catalina Capital Group LLC boosted its position in Eco Wave Power Global AB (publ) by 22.2% during the 4th quarter. Catalina Capital Group LLC now owns 23,338 shares of the company’s stock valued at $257,000 after buying an additional 4,239 shares during the period. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Eco Wave Power Global AB (publ) during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 0.57% of the company’s stock.

Eco Wave Power Global AB (publ) Price Performance

Shares of Eco Wave Power Global AB (publ) stock opened at $7.44 on Wednesday. Eco Wave Power Global AB has a 52-week low of $1.01 and a 52-week high of $17.63. The stock has a market capitalization of $41.28 million, a price-to-earnings ratio of -17.30 and a beta of -0.69. The company has a fifty day moving average of $8.56 and a 200-day moving average of $8.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.26 and a current ratio of 3.26.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Alliance Global Partners assumed coverage on shares of 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 assumed coverage on shares of Eco Wave Power Global AB (publ) in a research note on Tuesday, March 11th. They issued a “buy” rating and a $15.00 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.