K Wave Media, Ltd. (NASDAQ:KWM) Short Interest Down 65.1% in August

K Wave Media, Ltd. (NASDAQ:KWM) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totaling 20,572 shares, a decline of 65.1% from the August 15th total of 59,019 shares. Approximately 2.2% of the company’s stock are short sold. Based on an average trading volume of 363,020 shares, the days-to-cover ratio is currently 0.1 days.

K Wave Media Trading Up 5.5%

Shares of K Wave Media stock traded up $0.09 during trading on Friday, hitting $1.64. 237,707 shares of the company’s stock were exchanged, compared to its average volume of 257,020. The business has a 50-day simple moving average of $2.55 and a 200-day simple moving average of $8.59. K Wave Media has a 52-week low of $1.20 and a 52-week high of $99.90.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised K Wave Media from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On K Wave Media

Institutional investors and hedge funds have recently modified their holdings of the stock. Anson Funds Management LP acquired a new stake in K Wave Media during the first quarter worth about $1,984,000. Galaxy Group Investments LLC acquired a new position in K Wave Media in the fourth quarter valued at approximately $164,000. Citadel Advisors LLC acquired a new position in K Wave Media in the second quarter valued at approximately $26,000. Finally, Jane Street Group LLC purchased a new stake in K Wave Media in the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 62.18% of the company’s stock.

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.