KT Corporation (NYSE:KT) Sees Significant Decline in Short Interest

KT Corporation (NYSE:KT) was the target of a large decline in short interest during the month of February. As of February 13th, there was short interest totaling 3,311,463 shares, a decline of 23.0% from the January 29th total of 4,299,117 shares. Based on an average daily trading volume, of 1,857,426 shares, the days-to-cover ratio is presently 1.8 days. Based on an average daily trading volume, of 1,857,426 shares, the days-to-cover ratio is presently 1.8 days.

KT Price Performance

Shares of KT traded down $1.02 during trading on Tuesday, reaching $22.54. The company’s stock had a trading volume of 1,559,030 shares, compared to its average volume of 2,065,164. 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 company has a fifty day moving average of $21.02 and a two-hundred day moving average of $19.78. KT has a twelve month low of $16.25 and a twelve month high of $24.58.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Zacks Research upgraded shares of KT from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 8th. Wall Street Zen lowered KT from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of KT in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, KT presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Triumph Capital Management bought a new stake in shares of KT in the 3rd quarter worth about $47,000. First Horizon Advisors Inc. grew its stake 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 purchasing an additional 2,091 shares in the last quarter. Quantbot Technologies LP acquired a new position in KT in the third quarter worth about $81,000. Westpac Banking Corp acquired a new stake in KT during the fourth quarter valued at approximately $157,000. Finally, SG Americas Securities LLC acquired a new stake in KT during the fourth quarter valued at approximately $163,000. 18.86% of the stock is owned by institutional investors and hedge funds.

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.