K Wave Media, Ltd. (NASDAQ:KWM) Sees Significant Increase in Short Interest

K Wave Media, Ltd. (NASDAQ:KWM) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 164,465 shares, an increase of 433.2% from the June 15th total of 30,845 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,696,560 shares, the short-interest ratio is presently 0.1 days.

K Wave Media Stock Performance

NASDAQ KWM traded down $0.01 during trading hours on Monday, hitting $0.13. 490,135 shares of the company’s stock traded hands, compared to its average volume of 785,887. K Wave Media has a 52 week low of $0.12 and a 52 week high of $5.05. The business’s fifty day moving average price is $0.23 and its two-hundred day moving average price is $0.46.

K Wave Media (NASDAQ:KWM) last announced its quarterly earnings data on Saturday, May 16th. The company reported ($0.88) EPS for the quarter. The firm had revenue of $15.70 million during the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut K Wave Media from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat, K Wave Media presently has an average rating of “Sell”.

Hedge Funds Weigh In On K Wave Media

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in K Wave Media in the second quarter valued at about $41,000. Galaxy Group Investments LLC purchased a new position in shares of K Wave Media during the 4th quarter valued at about $164,000. Finally, Anson Funds Management LP purchased a new stake in K Wave Media in the 1st quarter worth approximately $1,984,000. Institutional investors own 62.18% of the company’s stock.

K Wave Media Company Profile

K Wave Media engaged in the entertainment content and IP creation businesses. K Wave Media, formerly known as Global Star Acquisition Inc, is based in NEW YORK.