K Wave Media, Ltd. (NASDAQ:KWM) Short Interest Down 38.3% in July

K Wave Media, Ltd. (NASDAQ:KWM) was the target of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 101,458 shares, a decline of 38.3% from the June 30th total of 164,465 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average daily volume of 413,060 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On K Wave Media

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

K Wave Media Trading Up 11.0%

NASDAQ:KWM opened at $0.08 on Friday. The company has a fifty day moving average price of $0.17 and a 200 day moving average price of $0.43. K Wave Media has a one year low of $0.07 and a one year high of $3.99.

K Wave Media’s stock is going to reverse split on the morning of Monday, August 3rd. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, August 2nd.

K Wave Media (NASDAQ:KWM) last posted its quarterly earnings data on Saturday, May 16th. The company reported ($0.88) earnings per share (EPS) for the quarter. The firm had revenue of $15.70 million for the quarter.

Analyst Ratings Changes

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

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.