Short Interest in Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Drops By 33.6%

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

Institutional Trading of Eco Wave Power Global AB (publ)

A number of institutional investors have recently modified their holdings of WAVE. IPG Investment Advisors LLC increased its position in shares of Eco Wave Power Global AB (publ) by 161.3% in the fourth quarter. IPG Investment Advisors LLC now owns 30,050 shares of the company’s stock worth $331,000 after purchasing an additional 18,550 shares during the period. Commonwealth Equity Services LLC bought a new position in Eco Wave Power Global AB (publ) in the 4th quarter valued at about $330,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Eco Wave Power Global AB (publ) in the 4th quarter valued at approximately $30,000. Catalina Capital Group LLC lifted its holdings in shares of 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 worth $257,000 after acquiring an additional 4,239 shares during the period. Finally, Veracity Capital LLC acquired a new stake in shares of Eco Wave Power Global AB (publ) during the 4th quarter worth approximately $392,000. 0.57% of the stock is currently owned by institutional investors.

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

WAVE stock opened at $6.25 on Friday. Eco Wave Power Global AB has a 52 week low of $1.01 and a 52 week high of $17.63. The company has a market capitalization of $34.68 million, a PE ratio of -14.53 and a beta of -0.69. The company’s 50-day simple moving average is $8.16 and its 200 day simple moving average is $8.60. 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 earnings results on Monday, March 3rd. The company reported ($0.12) EPS for the quarter. The firm had revenue of $0.17 million for the quarter.

Analyst Upgrades and Downgrades

WAVE has been the topic of a number of research reports. Maxim Group began 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 target on the stock. Alliance Global Partners began coverage on Eco Wave Power Global AB (publ) in a research report on Monday, February 3rd. They issued a “buy” rating and a $14.00 target price on the stock.

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.