Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Sees Large Growth in Short Interest

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 32,200 shares, an increase of 62.6% from the January 31st total of 19,800 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average trading volume of 76,200 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Trading of Eco Wave Power Global AB (publ)

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

Wall Street Analyst Weigh In

Separately, Alliance Global Partners initiated 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 target for the company.

Eco Wave Power Global AB (publ) Stock Performance

Eco Wave Power Global AB (publ) stock opened at $7.70 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. Eco Wave Power Global AB has a 12-month low of $1.01 and a 12-month high of $17.63. The firm’s fifty day moving average price is $9.69 and its 200 day moving average price is $8.17. The company has a market capitalization of $42.73 million, a price-to-earnings ratio of -17.91 and a beta of -0.73.

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.