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

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totalling 40,700 shares, a decline of 53.9% from the December 31st total of 88,200 shares. Based on an average daily trading volume, of 96,900 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.8% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Eco Wave Power Global AB (publ) stock. Catalina Capital Group LLC increased its holdings in Eco Wave Power Global AB (publ) (NASDAQ:WAVE) by 22.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,338 shares of the company’s stock after acquiring an additional 4,239 shares during the quarter. Catalina Capital Group LLC owned about 0.42% of Eco Wave Power Global AB (publ) worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 0.57% of the company’s stock.

Eco Wave Power Global AB (publ) Price Performance

Shares of NASDAQ:WAVE traded up $0.05 on Thursday, hitting $8.16. The company’s stock had a trading volume of 17,774 shares, compared to its average volume of 58,897. 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 company has a 50-day simple moving average of $11.30 and a 200 day simple moving average of $7.28. The company has a market capitalization of $45.18 million, a PE ratio of -18.97 and a beta of -0.68. Eco Wave Power Global AB has a 1 year low of $1.01 and a 1 year high of $17.63.

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