Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Sees Significant Decrease in Short Interest

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

Analysts Set New Price Targets

Separately, Alliance Global Partners initiated coverage on Eco Wave Power Global AB (publ) in a report on Monday, February 3rd. They issued a “buy” rating and a $14.00 price objective on the stock.

Eco Wave Power Global AB (publ) Stock Up 4.0 %

Shares of NASDAQ:WAVE opened at $8.93 on Thursday. The firm has a market capitalization of $49.55 million, a PE ratio of -20.77 and a beta of -0.73. 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 debt-to-equity ratio of 0.01, a current ratio of 3.26 and a quick ratio of 3.26. The firm’s 50-day moving average is $10.88 and its two-hundred day moving average is $7.68.

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

Institutional Trading of Eco Wave Power Global AB (publ)

Several hedge funds have recently modified their holdings of the stock. Veracity Capital LLC purchased a new stake in Eco Wave Power Global AB (publ) during the 4th quarter worth about $392,000. Commonwealth Equity Services LLC acquired a new position in shares of Eco Wave Power Global AB (publ) during the fourth quarter worth about $330,000. Catalina Capital Group LLC acquired a new position in shares of Eco Wave Power Global AB (publ) during the third quarter worth about $113,000. IPG Investment Advisors LLC increased 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 buying an additional 18,550 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new stake in Eco Wave Power Global AB (publ) in the fourth quarter valued at approximately $30,000. 0.57% of the stock is currently owned by institutional investors and hedge funds.

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.