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 significant growth in short interest in the month of 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 trading volume, of 66,900 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.8% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several research firms have commented on WAVE. 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 target price for the company. Maxim Group assumed coverage on Eco Wave Power Global AB (publ) in a research report on Tuesday, March 11th. They set a “buy” rating and a $15.00 target price for the company.

Hedge Funds Weigh In On Eco Wave Power Global AB (publ)

Several institutional investors and hedge funds have recently added to or reduced their stakes in WAVE. Veracity Capital LLC purchased a new position in Eco Wave Power Global AB (publ) in the fourth quarter valued at about $392,000. Catalina Capital Group LLC grew its stake 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 valued at $257,000 after purchasing an additional 4,239 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Eco Wave Power Global AB (publ) in the fourth quarter valued at about $30,000. Commonwealth Equity Services LLC purchased a new position in Eco Wave Power Global AB (publ) in the fourth quarter valued at about $330,000. Finally, IPG Investment Advisors LLC grew its stake 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 worth $331,000 after acquiring an additional 18,550 shares during the last quarter. Hedge funds and other institutional investors own 0.57% of the company’s stock.

Eco Wave Power Global AB (publ) Stock Performance

WAVE stock opened at $8.04 on Monday. 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 business has a 50-day moving average price of $8.67 and a 200 day moving average price of $8.43. The company has a market capitalization of $44.61 million, a P/E ratio of -18.70 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.

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

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.