Short Interest in K Wave Media, Ltd. (NASDAQ:KWM) Decreases By 95.2%

K Wave Media, Ltd. (NASDAQ:KWM) was the recipient of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 59,019 shares, a drop of 95.2% from the July 30th total of 1,230,606 shares. Currently, 7.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 241,259 shares, the short-interest ratio is presently 0.2 days.

K Wave Media Stock Down 2.7%

Shares of NASDAQ:KWM traded down $0.04 during trading hours on Thursday, hitting $1.60. 21,772 shares of the company’s stock traded hands, compared to its average volume of 140,723. The business has a fifty day moving average price of $3.43 and a 200-day moving average price of $10.35. K Wave Media has a 1 year low of $1.50 and a 1 year high of $99.90.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of K Wave Media from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average 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.