Short Interest in Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Decreases By 51.4%

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) was the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 19,800 shares, a decline of 51.4% from the January 15th total of 40,700 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 92,900 shares, the short-interest ratio is currently 0.2 days.

Eco Wave Power Global AB (publ) Price Performance

Shares of Eco Wave Power Global AB (publ) stock opened at $9.40 on Friday. Eco Wave Power Global AB has a 1 year low of $1.01 and a 1 year high of $17.63. 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’s 50-day moving average is $10.86 and its two-hundred day moving average is $7.69.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last released its quarterly earnings data on Thursday, November 21st. The company reported ($0.10) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC purchased a new stake in shares of Eco Wave Power Global AB (publ) during the 4th quarter worth $30,000. Catalina Capital Group LLC raised its holdings in Eco Wave Power Global AB (publ) by 22.2% in the fourth quarter. Catalina Capital Group LLC now owns 23,338 shares of the company’s stock worth $257,000 after purchasing an additional 4,239 shares in the last quarter. IPG Investment Advisors LLC lifted its position in shares of 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 buying an additional 18,550 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of Eco Wave Power Global AB (publ) in the 4th quarter valued at about $330,000. Finally, Veracity Capital LLC purchased a new position in shares of Eco Wave Power Global AB (publ) in the 4th quarter worth approximately $392,000. 0.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners assumed 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 target on the stock.

About Eco Wave Power Global AB (publ)

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.