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

K Wave Media, Ltd. (NASDAQ:KWM) was the recipient of a large decrease in short interest in 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. Approximately 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 363,020 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

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

K Wave Media Trading Up 5.5%

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

Hedge Funds Weigh In On K Wave Media

Several hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC bought a new stake in K Wave Media in the second quarter worth about $26,000. Jane Street Group LLC purchased a new stake in shares of K Wave Media in the second quarter worth approximately $41,000. Galaxy Group Investments LLC purchased a new stake in shares of K Wave Media in the fourth quarter worth approximately $164,000. Finally, Anson Funds Management LP bought a new stake in shares of K Wave Media during the 1st quarter worth approximately $1,984,000. 62.18% of the stock is currently owned by 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.