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

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) saw a significant 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. Currently, 0.6% of the shares of the company are short sold. Based on an average daily volume of 35,600 shares, the short-interest ratio is presently 1.0 days.

Wall Street Analyst Weigh In

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

Institutional Trading of Eco Wave Power Global AB (publ)

Large investors have recently bought and sold shares of the business. Veracity Capital LLC acquired a new position in Eco Wave Power Global AB (publ) during the fourth quarter worth $392,000. Commonwealth Equity Services LLC acquired a new position in shares of Eco Wave Power Global AB (publ) in the 4th quarter valued at $330,000. IPG Investment Advisors LLC raised its stake in Eco Wave Power Global AB (publ) by 161.3% during 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 in the last quarter. Catalina Capital Group LLC lifted its position in 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 valued at $257,000 after acquiring an additional 4,239 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 fourth quarter worth about $30,000. Hedge funds and other institutional investors own 0.57% of the company’s stock.

Eco Wave Power Global AB (publ) Price Performance

Shares of NASDAQ WAVE opened at $6.14 on Friday. The company has a market cap of $34.07 million, a PE ratio of -14.28 and a beta of -0.53. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.26 and a current ratio of 3.26. The business has a 50-day simple moving average of $7.22 and a two-hundred day simple moving average of $8.83. Eco Wave Power Global AB has a fifty-two week low of $2.20 and a fifty-two week high of $17.63.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last issued 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.

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.