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

K Wave Media, Ltd. (NASDAQ:KWMGet Free Report) saw a significant growth in short interest in 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 daily volume of 2,696,560 shares, the short-interest ratio is currently 0.1 days. Currently, 0.7% of the shares of the stock are short sold.

K Wave Media Trading Up 0.6%

Shares of KWM stock traded up $0.00 during trading hours 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. K Wave Media has a fifty-two week low of $0.13 and a fifty-two week high of $5.23. The firm’s 50 day simple moving average is $0.23 and its 200-day simple moving average is $0.46.

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

Analyst Upgrades and Downgrades

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

View Our Latest Analysis on KWM

Hedge Funds Weigh In On K Wave Media

Institutional investors have recently added to or reduced their stakes in the stock. Anson Funds Management LP acquired a new stake in K Wave Media in the first quarter valued at approximately $1,984,000. Galaxy Group Investments LLC bought a new position in shares of K Wave Media in the 4th quarter valued at $164,000. Finally, Jane Street Group LLC bought a new position in shares of K Wave Media in the 2nd quarter valued at $41,000. 62.18% of the stock is currently owned by institutional investors and hedge funds.

About K Wave Media

(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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