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

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

K Wave Media Trading Down 2.9%

Shares of K Wave Media stock traded down $0.01 during trading hours on Friday, reaching $0.17. The stock had a trading volume of 339,817 shares, compared to its average volume of 802,687. The stock’s 50 day moving average is $0.27 and its 200 day moving average is $0.49. K Wave Media has a twelve month low of $0.16 and a twelve month high of $5.70.

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

Hedge Funds Weigh In On K Wave Media

A number of hedge funds have recently bought and sold shares of KWM. Anson Funds Management LP acquired a new stake in K Wave Media in the first quarter valued at approximately $1,984,000. Galaxy Group Investments LLC purchased a new stake in shares of K Wave Media in the fourth quarter valued at approximately $164,000. Finally, Jane Street Group LLC acquired a new position in shares of K Wave Media during the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 62.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered 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, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

About K Wave Media

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.