Short Interest in K Wave Media, Ltd. (NASDAQ:KWM) Drops By 86.9%

K Wave Media, Ltd. (NASDAQ:KWM) was the target of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 30,845 shares, a decline of 86.9% from the May 31st total of 234,872 shares. Based on an average daily trading volume, of 1,730,364 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.1% of the shares of the company are sold short.

K Wave Media Price Performance

NASDAQ:KWM traded down $0.00 during mid-day trading on Friday, hitting $0.17. 777,503 shares of the company’s stock traded hands, compared to its average volume of 2,215,158. The firm has a 50 day moving average of $0.27 and a two-hundred day moving average of $0.49. K Wave Media has a 12 month low of $0.16 and a 12 month high of $5.70.

K Wave Media (NASDAQ:KWM) last issued its quarterly earnings results on Saturday, May 16th. The company reported ($0.92) EPS for the quarter. The business had revenue of $15.70 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of K Wave Media from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On K Wave Media

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new position in K Wave Media during the 2nd quarter valued at $41,000. Galaxy Group Investments LLC acquired a new position in shares of K Wave Media during the fourth quarter valued at about $164,000. Finally, Anson Funds Management LP acquired a new position in shares of K Wave Media during the first quarter valued at about $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.