Short Interest in Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Drops By 33.6%

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 27,900 shares, a drop of 33.6% from the February 28th total of 42,000 shares. Based on an average daily trading volume, of 46,200 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.5% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

WAVE has been the subject of several research analyst reports. Maxim Group started coverage on Eco Wave Power Global AB (publ) in a research note on Tuesday, March 11th. They set a “buy” rating and a $15.00 target price for the company. Alliance Global Partners assumed coverage on shares of Eco Wave Power Global AB (publ) in a research note on Monday, February 3rd. They issued a “buy” rating and a $14.00 price objective for the company.

Eco Wave Power Global AB (publ) Trading Down 8.1 %

Shares of WAVE stock opened at $6.25 on Friday. Eco Wave Power Global AB has a twelve month low of $1.01 and a twelve month high of $17.63. The stock’s fifty day simple moving average is $8.16 and its 200 day simple moving average is $8.60. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $34.68 million, a P/E ratio of -14.53 and a beta of -0.69.

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

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

Several large investors have recently modified their holdings of WAVE. Steward Partners Investment Advisory LLC bought a new stake in shares of Eco Wave Power Global AB (publ) in the fourth quarter worth $30,000. Catalina Capital Group LLC raised its position in Eco Wave Power Global AB (publ) by 22.2% during the 4th 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. Commonwealth Equity Services LLC acquired a new position in Eco Wave Power Global AB (publ) during the 4th quarter worth about $330,000. IPG Investment Advisors LLC grew its position in shares of 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 during the last quarter. Finally, Veracity Capital LLC acquired a new stake in shares of Eco Wave Power Global AB (publ) in the fourth quarter valued at about $392,000. Institutional investors own 0.57% of the company’s stock.

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.