Short Interest in Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Expands By 23.7%

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 34,500 shares, a growth of 23.7% from the March 15th total of 27,900 shares. Based on an average trading volume of 35,600 shares, the short-interest ratio is currently 1.0 days. Currently, 0.6% of the shares of the stock are short sold.

Institutional Trading of Eco Wave Power Global AB (publ)

Hedge funds and other institutional investors have recently made changes to their positions in the company. Veracity Capital LLC bought a new position in Eco Wave Power Global AB (publ) in the 4th quarter valued at approximately $392,000. Commonwealth Equity Services LLC acquired a new position in Eco Wave Power Global AB (publ) in the 4th quarter valued at approximately $330,000. IPG Investment Advisors LLC raised 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 valued at $331,000 after acquiring an additional 18,550 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Eco Wave Power Global AB (publ) during the fourth quarter worth $30,000. Finally, Catalina Capital Group LLC grew its stake in shares of 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 during the last quarter. 0.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Alliance Global Partners assumed coverage on shares of Eco Wave Power Global AB (publ) in a research report on Monday, February 3rd. They set a “buy” rating and a $14.00 price objective for the company. Maxim Group started coverage on 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.

Eco Wave Power Global AB (publ) Trading Up 0.2 %

Shares of Eco Wave Power Global AB (publ) stock opened at $6.15 on Tuesday. The firm has a market capitalization of $34.13 million, a PE ratio of -14.30 and a beta of -0.53. 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 $7.16 and its 200 day moving average is $8.85. Eco Wave Power Global AB has a 1 year low of $2.20 and a 1 year high of $17.63.

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

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.