Eco Wave Power Global AB (publ) (NASDAQ:WAVE) Short Interest Up 62.6% in February

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) saw a significant growth in short interest in February. As of February 15th, there was short interest totalling 32,200 shares, a growth of 62.6% from the January 31st total of 19,800 shares. Currently, 0.6% of the shares of the stock 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) Trading Down 1.7 %

Shares of WAVE stock opened at $7.38 on Tuesday. The stock has a market capitalization of $40.95 million, a PE ratio of -17.16 and a beta of -0.73. Eco Wave Power Global AB has a 1-year low of $1.01 and a 1-year high of $17.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.26 and a quick ratio of 3.26. The business has a 50-day moving average of $9.56 and a 200 day moving average of $8.20.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC purchased a new stake in Eco Wave Power Global AB (publ) in the fourth quarter worth about $30,000. Catalina Capital Group LLC purchased a new position in shares of Eco Wave Power Global AB (publ) in the 3rd quarter valued at approximately $113,000. Commonwealth Equity Services LLC bought a new stake in shares of Eco Wave Power Global AB (publ) during the fourth quarter valued at approximately $330,000. IPG Investment Advisors LLC grew its stake in Eco Wave Power Global AB (publ) by 161.3% in the fourth 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 during the period. Finally, Veracity Capital LLC bought a new position in Eco Wave Power Global AB (publ) in the fourth quarter worth $392,000. 0.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners began 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 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.