K Wave Media, Ltd. (NASDAQ:KWM) Short Interest Down 86.9% in June

K Wave Media, Ltd. (NASDAQ:KWM) was the target of a significant decrease in short interest in the month of 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. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 1,730,364 shares, the short-interest ratio is currently 0.0 days.

K Wave Media Stock Down 2.9%

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

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

Hedge Funds Weigh In On K Wave Media

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut K Wave Media from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus 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.