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

K Wave Media, Ltd. (NASDAQ:KWM) was the target of a large growth in short interest in July. As of July 31st, there was short interest totaling 1,230,606 shares, a growth of 1,112.9% from the July 15th total of 101,458 shares. Currently, 165.0% of the shares of the stock are short sold. Based on an average daily volume of 31,886,121 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of K Wave Media from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KWM. Jane Street Group LLC purchased a new position in K Wave Media in the 2nd quarter valued at about $41,000. Galaxy Group Investments LLC acquired a new position in shares of K Wave Media in the fourth quarter valued at approximately $164,000. Finally, Anson Funds Management LP purchased a new position in shares of K Wave Media during the first quarter valued at approximately $1,984,000. Institutional investors and hedge funds own 62.18% of the company’s stock.

K Wave Media Stock Down 1.7%

KWM stock opened at $2.27 on Wednesday. The stock’s 50 day moving average price is $4.44 and its 200 day moving average price is $12.08. K Wave Media has a 1 year low of $2.02 and a 1 year high of $105.60.

K Wave Media (NASDAQ:KWM) last released its quarterly earnings results on Saturday, May 16th. The company reported ($26.40) earnings per share for the quarter. The business had revenue of $15.70 million during the quarter.

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.