K Wave Media (NASDAQ:KWM) Trading Down 0.6% – What’s Next?

K Wave Media, Ltd. (NASDAQ:KWM) 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 K Wave Media in a research report on Wednesday, May 27th. They set a “sell (d-)” rating on the stock. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

K Wave Media Price Performance

The company has a 50-day simple moving average of $0.33 and a 200-day simple moving average of $0.53.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KWM. Jane Street Group LLC purchased a new position in K Wave Media in the second quarter valued at about $41,000. Galaxy Group Investments LLC purchased a new position in K Wave Media in the fourth quarter valued at about $164,000. Finally, Anson Funds Management LP purchased a new position in K Wave Media in the first quarter valued at about $1,984,000. 62.18% of the stock is owned by hedge funds and other institutional investors.

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.