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

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) was the recipient of a significant increase in short interest in 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 shares of the company are sold short. Based on an average daily volume of 76,200 shares, the days-to-cover ratio is currently 0.4 days.

Eco Wave Power Global AB (publ) Stock Performance

Shares of WAVE stock opened at $7.51 on Friday. 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 business has a 50 day moving average of $9.69 and a two-hundred day moving average of $8.14. Eco Wave Power Global AB has a 52 week low of $1.01 and a 52 week high of $17.63. The company has a market cap of $41.67 million, a P/E ratio of -17.47 and a beta of -0.73.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WAVE. Veracity Capital LLC acquired a new stake in Eco Wave Power Global AB (publ) in the fourth quarter worth $392,000. Catalina Capital Group LLC boosted its holdings in shares of Eco Wave Power Global AB (publ) by 22.2% during the fourth quarter. Catalina Capital Group LLC now owns 23,338 shares of the company’s stock valued at $257,000 after acquiring an additional 4,239 shares during the period. Commonwealth Equity Services LLC acquired a new stake in shares of Eco Wave Power Global AB (publ) in the 4th quarter worth about $330,000. IPG Investment Advisors LLC increased its holdings 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 worth $331,000 after acquiring an additional 18,550 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Eco Wave Power Global AB (publ) in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners started coverage on shares of Eco Wave Power Global AB (publ) in a report on Monday, February 3rd. They issued a “buy” rating and a $14.00 price target for the company.

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.