K Wave Media (NASDAQ:KWM) Shares Down 0.6% – Time to Sell?

K Wave Media, Ltd. (NASDAQ:KWM)’s stock price fell 0.6% during mid-day trading on Tuesday . The stock traded as low as $0.2050 and last traded at $0.2267. 3,250,622 shares were traded during trading, an increase of 466% from the average session volume of 573,893 shares. The stock had previously closed at $0.2280.

Analyst Ratings Changes

Separately, Weiss Ratings began coverage on shares of K Wave Media in a research note on Wednesday, May 27th. They set a “sell (d-)” rating on the stock. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

K Wave Media Stock Down 0.6%

The business has a fifty day moving average price of $0.34 and a two-hundred day moving average price of $0.54.

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

Hedge Funds Weigh In On K Wave Media

Hedge funds have recently modified their holdings of the stock. Galaxy Group Investments LLC acquired a new position in shares of K Wave Media in the fourth quarter worth $164,000. Jane Street Group LLC acquired a new position in shares of K Wave Media in the second quarter worth $41,000. Finally, Anson Funds Management LP acquired a new position in shares of K Wave Media in the first quarter worth $1,984,000. 62.18% of the stock is owned by institutional investors and hedge funds.

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.