KT Corporation (NYSE:KT) Sees Large Increase in Short Interest

KT Corporation (NYSE:KT) was the target of a large growth in short interest in December. As of December 15th, there was short interest totaling 3,851,633 shares, a growth of 93.0% from the November 30th total of 1,995,176 shares. Based on an average daily volume of 1,986,523 shares, the short-interest ratio is presently 1.9 days. Approximately 0.8% of the company’s stock are short sold. Approximately 0.8% of the company’s stock are short sold. Based on an average daily volume of 1,986,523 shares, the short-interest ratio is presently 1.9 days.

Analyst Ratings Changes

A number of brokerages recently commented on KT. Weiss Ratings reiterated a “hold (c+)” rating on shares of KT in a report on Monday, December 22nd. Wall Street Zen downgraded shares of KT from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, Zacks Research lowered shares of KT from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Institutional Trading of KT

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Walleye Capital LLC acquired a new stake in shares of KT in the first quarter valued at about $766,000. Vident Advisory LLC lifted its stake in KT by 16.5% in the 1st quarter. Vident Advisory LLC now owns 181,962 shares of the technology company’s stock valued at $3,223,000 after buying an additional 25,736 shares in the last quarter. Royal Bank of Canada boosted its holdings in KT by 1.1% in the 1st quarter. Royal Bank of Canada now owns 102,808 shares of the technology company’s stock worth $1,820,000 after buying an additional 1,078 shares during the last quarter. Millennium Management LLC increased its stake in KT by 4,148.2% during the 1st quarter. Millennium Management LLC now owns 530,817 shares of the technology company’s stock worth $9,401,000 after buying an additional 518,322 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of KT by 20,894.8% during the first quarter. NewEdge Advisors LLC now owns 20,365 shares of the technology company’s stock valued at $361,000 after acquiring an additional 20,268 shares during the last quarter. Institutional investors and hedge funds own 18.86% of the company’s stock.

KT Stock Performance

KT stock traded up $0.12 during midday trading on Friday, reaching $19.15. The stock had a trading volume of 665,577 shares, compared to its average volume of 1,736,046. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.24. The firm has a fifty day simple moving average of $18.51 and a two-hundred day simple moving average of $19.58. The stock has a market cap of $9.87 billion, a PE ratio of 13.68, a P/E/G ratio of 0.15 and a beta of 0.67. KT has a 52-week low of $15.49 and a 52-week high of $21.61.

About KT

KT Corporation, listed on the New York Stock Exchange as an American depositary receipt under the symbol KT, is a major telecommunications and information technology provider headquartered in Seongnam, South Korea. The company’s services span traditional fixed-line voice communication, high-speed broadband internet access and mobile cellular networks. Leveraging an extensive fiber-optic and wireless infrastructure, KT delivers voice, data and multimedia solutions to both consumer and enterprise customers.

KT has been at the forefront of technological innovation in its home market, launching South Korea’s first commercial 5G network and expanding its offerings to include Internet of Things (IoT) platforms, cloud computing services and cybersecurity solutions.