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

K Wave Media, Ltd. (NASDAQ:KWM) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 20,572 shares, a decrease of 65.1% from the August 15th total of 59,019 shares. Based on an average daily trading volume, of 363,020 shares, the short-interest ratio is presently 0.1 days. Approximately 2.2% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of K Wave Media from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, September 9th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

K Wave Media Price Performance

Shares of K Wave Media stock traded up $0.09 during trading hours on Monday, hitting $1.64. 237,707 shares of the company were exchanged, compared to its average volume of 257,020. The business has a 50-day moving average of $2.50 and a 200-day moving average of $8.36. K Wave Media has a 1 year low of $1.20 and a 1 year high of $99.90.

Hedge Funds Weigh In On K Wave Media

An institutional investor recently bought a new stake in K Wave Media stock. Anson Funds Management LP bought a new stake in K Wave Media, Ltd. (NASDAQ:KWM) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,823,333 shares of the company’s stock, valued at approximately $1,984,000. Anson Funds Management LP owned approximately 6.05% of K Wave Media as of its most recent SEC filing. 62.18% of the stock is owned by hedge funds and other institutional investors.

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.