Short Interest in K Wave Media, Ltd. (NASDAQ:KWM) Declines 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. Approximately 7.9% of the company’s stock are short sold. Based on an average daily trading volume, of 241,259 shares, the days-to-cover ratio is currently 0.2 days.

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 report on Friday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

K Wave Media Price Performance

NASDAQ:KWM traded down $0.13 during trading hours on Tuesday, hitting $1.58. 164,328 shares of the company traded hands, compared to its average volume of 729,673. The firm’s 50-day simple moving average is $3.52 and its 200-day simple moving average is $10.50. K Wave Media has a one year low of $1.50 and a one year high of $99.90.

Institutional Trading of K Wave Media

Several institutional investors and hedge funds have recently made changes to their positions in KWM. Jane Street Group LLC bought a new position in shares of K Wave Media during the second quarter valued at about $41,000. Galaxy Group Investments LLC purchased a new position in K Wave Media during the fourth quarter worth about $164,000. Finally, Anson Funds Management LP bought a new stake in K Wave Media in the 1st quarter worth about $1,984,000. Hedge funds and other institutional investors own 62.18% of the company’s stock.

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.