K Wave Media, Ltd. (NASDAQ:KWM) Sees Large Growth in Short Interest

K Wave Media, Ltd. (NASDAQ:KWMGet Free Report) saw a large increase in short interest during the month of 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 company are sold short. Based on an average daily trading volume, of 2,696,560 shares, the days-to-cover ratio is presently 0.1 days.

K Wave Media Stock Performance

Shares of KWM traded down $0.01 during trading hours on Monday, hitting $0.13. 504,835 shares of the company were exchanged, compared to its average volume of 785,950. K Wave Media has a fifty-two week low of $0.12 and a fifty-two week high of $5.05. The firm’s fifty day moving average is $0.23 and its 200 day moving average is $0.46.

K Wave Media (NASDAQ:KWMGet Free Report) last issued its quarterly earnings results on Saturday, May 16th. The company reported ($0.88) EPS for the quarter. The company had revenue of $15.70 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of 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 data from MarketBeat, the company presently has a consensus rating of “Sell”.

Read Our Latest Analysis on KWM

Institutional Trading of K Wave Media

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

K Wave Media Company Profile

(Get Free Report)

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.

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