Short Interest in KT Corporation (NYSE:KT) Grows By 19.9%

KT Corporation (NYSE:KT) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totaling 4,619,481 shares, a growth of 19.9% from the December 15th total of 3,851,633 shares. Based on an average daily trading volume, of 1,399,410 shares, the days-to-cover ratio is presently 3.3 days. Based on an average daily trading volume, of 1,399,410 shares, the days-to-cover ratio is presently 3.3 days.

KT Stock Performance

Shares of NYSE:KT traded up $0.19 during midday trading on Monday, reaching $19.48. The company had a trading volume of 1,401,018 shares, compared to its average volume of 1,320,345. The stock has a market cap of $10.05 billion, a P/E ratio of 13.91, a P/E/G ratio of 0.17 and a beta of 0.65. The company’s 50 day moving average price is $18.65 and its 200 day moving average price is $19.45. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. KT has a 52-week low of $16.25 and a 52-week high of $21.61.

Institutional Investors Weigh In On KT

Large investors have recently modified their holdings of the stock. Triumph Capital Management purchased a new position in KT in the third quarter valued at approximately $47,000. First Horizon Advisors Inc. increased its position in KT by 506.3% in the second quarter. First Horizon Advisors Inc. now owns 2,504 shares of the technology company’s stock worth $52,000 after buying an additional 2,091 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of KT in the third quarter valued at $81,000. Farther Finance Advisors LLC lifted its position in shares of KT by 267.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,358 shares of the technology company’s stock valued at $174,000 after buying an additional 6,083 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of KT during the 4th quarter worth $163,000. Hedge funds and other institutional investors own 18.86% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.