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

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) saw a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 14,000 shares, a decline of 39.4% from the April 30th total of 23,100 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average trading volume of 25,900 shares, the short-interest ratio is currently 0.5 days.

Institutional Investors Weigh In On Eco Wave Power Global AB (publ)

Several institutional investors and hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC acquired a new stake in Eco Wave Power Global AB (publ) during the fourth quarter worth about $30,000. Catalina Capital Group LLC boosted its holdings in shares of 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 in the last quarter. IPG Investment Advisors LLC boosted its holdings in shares of 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 valued at $331,000 after acquiring an additional 18,550 shares in the last quarter. Finally, Commonwealth Equity Services LLC bought a new position in shares of Eco Wave Power Global AB (publ) in the fourth quarter valued at approximately $330,000. Institutional investors and hedge funds own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

WAVE has been the subject of several research reports. Maxim Group initiated coverage on shares of Eco Wave Power Global AB (publ) in a research note on Tuesday, March 11th. They set a “buy” rating and a $15.00 price objective for the company. Alliance Global Partners began coverage on shares of Eco Wave Power Global AB (publ) in a research report on Monday, February 3rd. They set a “buy” rating and a $14.00 price target for the company. Finally, Wall Street Zen cut shares of Eco Wave Power Global AB (publ) from a “hold” rating to a “sell” rating in a research report on Saturday, May 24th.

Eco Wave Power Global AB (publ) Stock Performance

NASDAQ:WAVE opened at $5.87 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.26 and a quick ratio of 3.26. Eco Wave Power Global AB has a 1-year low of $2.20 and a 1-year high of $17.63. The firm has a 50-day moving average of $6.17 and a two-hundred day moving average of $8.53. The stock has a market cap of $32.57 million, a P/E ratio of -13.65 and a beta of -0.52.

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.03.

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.