Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Short Interest Update

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. Based on an average trading volume of 92,900 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.4% of the shares of the stock are short sold.

Eco Wave Power Global AB (publ) Price Performance

WAVE stock traded down $0.31 during trading hours on Friday, hitting $9.09. 29,026 shares of the stock traded hands, compared to its average volume of 39,997. The stock has a 50-day simple moving average of $10.82 and a 200 day simple moving average of $7.74. The company has a market cap of $50.45 million, a P/E ratio of -21.14 and a beta of -0.73. Eco Wave Power Global AB has a one year low of $1.01 and a one year high of $17.63. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 0.01.

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

Wall Street Analyst Weigh In

Separately, 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 target price for the company.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC bought a new stake in shares of Eco Wave Power Global AB (publ) during the 4th quarter worth $30,000. Catalina Capital Group LLC acquired a new position in shares of Eco Wave Power Global AB (publ) in the 3rd quarter valued at $113,000. Commonwealth Equity Services LLC purchased a new position in Eco Wave Power Global AB (publ) in the 4th quarter worth about $330,000. IPG Investment Advisors LLC increased 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 worth $331,000 after purchasing an additional 18,550 shares in the last quarter. Finally, Veracity Capital LLC acquired a new stake in Eco Wave Power Global AB (publ) during the 4th quarter worth about $392,000. Institutional investors and hedge funds 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.