KT (NYSE:KT) Hits New 12-Month High – Here’s Why

KT Corporation (NYSE:KT) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $24.58 and last traded at $24.46, with a volume of 952045 shares changing hands. The stock had previously closed at $24.15.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KT. Weiss Ratings reissued a “hold (c+)” rating on shares of KT in a research report on Monday, December 29th. Wall Street Zen downgraded shares of KT from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 28th. Finally, Zacks Research raised shares of KT from a “strong sell” rating to a “hold” rating in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, KT has an average rating of “Hold”.

KT Trading Up 1.6%

The stock has a market cap of $12.65 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 0.21 and a beta of 0.65. The firm’s 50 day simple moving average is $20.21 and its two-hundred day simple moving average is $19.59. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.42.

Hedge Funds Weigh In On KT

A number of large investors have recently bought and sold shares of KT. Triumph Capital Management bought a new position in shares of KT during the third quarter valued at approximately $47,000. First Horizon Advisors Inc. lifted its holdings in shares of KT by 506.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,504 shares of the technology company’s stock worth $52,000 after purchasing an additional 2,091 shares during the last quarter. Quantbot Technologies LP acquired a new position in KT during the 3rd quarter valued at approximately $81,000. Westpac Banking Corp bought a new position in KT during the 4th quarter worth $157,000. Finally, SG Americas Securities LLC acquired a new stake in KT in the fourth quarter worth $163,000. Institutional investors own 18.86% of the company’s stock.

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.