Short Interest in Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Increases By 30.4%

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 42,000 shares, an increase of 30.4% from the February 13th total of 32,200 shares. Based on an average daily trading volume, of 66,900 shares, the short-interest ratio is currently 0.6 days. Approximately 0.8% of the shares of the company are short sold.

Eco Wave Power Global AB (publ) Stock Performance

Shares of NASDAQ WAVE opened at $7.68 on Tuesday. Eco Wave Power Global AB has a 12 month low of $1.01 and a 12 month high of $17.63. The company has a market cap of $42.62 million, a P/E ratio of -17.86 and a beta of -0.69. The business’s 50 day moving average is $8.61 and its two-hundred day moving average is $8.46. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 0.01.

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 for the quarter. The firm had revenue of $0.17 million during the quarter.

Institutional Trading of Eco Wave Power Global AB (publ)

Several institutional investors have recently modified their holdings of WAVE. Veracity Capital LLC acquired a new stake in shares of Eco Wave Power Global AB (publ) during the 4th quarter worth approximately $392,000. Commonwealth Equity Services LLC acquired a new stake in Eco Wave Power Global AB (publ) in the 4th quarter valued at $330,000. IPG Investment Advisors LLC boosted its stake in Eco Wave Power Global AB (publ) by 161.3% in 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 in the last quarter. Catalina Capital Group LLC boosted its stake in 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 valued at $257,000 after buying an additional 4,239 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in Eco Wave Power Global AB (publ) in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

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