K Wave Media, Ltd. (NASDAQ:KWM) Sees Large Decline in Short Interest

K Wave Media, Ltd. (NASDAQ:KWM) saw a significant decline in short interest in the month of 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. Based on an average daily volume of 363,020 shares, the short-interest ratio is presently 0.1 days. Currently, 2.2% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On K Wave Media

A number of hedge funds and other institutional investors have recently modified their holdings of KWM. Citadel Advisors LLC bought a new stake in shares of K Wave Media in the second quarter worth about $26,000. Anson Funds Management LP purchased a new stake in shares of K Wave Media during the 1st quarter worth approximately $1,984,000. Galaxy Group Investments LLC bought a new position in shares of K Wave Media during the 4th quarter valued at approximately $164,000. Finally, Jane Street Group LLC purchased a new position in shares of K Wave Media in the second quarter valued at $41,000. Institutional investors own 62.18% of the company’s stock.

K Wave Media Stock Performance

NASDAQ:KWM opened at $1.64 on Friday. K Wave Media has a 52 week low of $1.20 and a 52 week high of $99.90. The stock’s fifty day moving average is $2.55 and its two-hundred day moving average is $8.59.

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.