Short Interest in K Wave Media, Ltd. (NASDAQ:KWM) Expands By 433.2%

K Wave Media, Ltd. (NASDAQ:KWM) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 164,465 shares, a growth of 433.2% from the June 15th total of 30,845 shares. Based on an average trading volume of 2,696,560 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.7% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new stake in K Wave Media in the second quarter worth $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. 62.18% of the stock is owned by institutional investors.

K Wave Media Stock Up 0.6%

Shares of NASDAQ:KWM traded up $0.00 during midday trading on Friday, reaching $0.14. The company’s stock had a trading volume of 474,622 shares, compared to its average volume of 1,554,464. The firm has a 50 day moving average price of $0.23 and a two-hundred day moving average price of $0.46. K Wave Media has a fifty-two week low of $0.13 and a fifty-two week high of $5.23.

K Wave Media (NASDAQ:KWM) last issued its earnings results on Saturday, May 16th. The company reported ($0.88) earnings per share for the quarter. The business had revenue of $15.70 million during the quarter.

Analysts Set New Price Targets

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

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.