Short Interest in Kyndryl Holdings, Inc. (NYSE:KD) Increases By 6.1%

Kyndryl Holdings, Inc. (NYSE:KD) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 8,130,000 shares, an increase of 6.1% from the October 15th total of 7,660,000 shares. Approximately 3.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,760,000 shares, the days-to-cover ratio is currently 4.6 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Bartlett & Co. LLC raised its position in shares of Kyndryl by 142.0% in the 3rd quarter. Bartlett & Co. LLC now owns 1,873 shares of the company’s stock worth $28,000 after acquiring an additional 1,099 shares in the last quarter. Fairfield Bush & CO. acquired a new stake in Kyndryl during the second quarter worth approximately $28,000. Huntington National Bank lifted its stake in Kyndryl by 32.9% in the third quarter. Huntington National Bank now owns 3,714 shares of the company’s stock valued at $56,000 after buying an additional 919 shares during the period. State of Wyoming bought a new position in shares of Kyndryl during the 2nd quarter worth approximately $55,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of Kyndryl during the 1st quarter worth approximately $61,000. Institutional investors own 64.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Kyndryl from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, August 22nd. Susquehanna upped their price objective on Kyndryl from $15.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, November 9th.

Kyndryl Stock Performance

Shares of Kyndryl stock opened at $18.22 on Friday. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of -3.68 and a beta of 1.44. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.81. Kyndryl has a twelve month low of $9.81 and a twelve month high of $18.26. The company’s fifty day moving average is $15.62 and its 200 day moving average is $14.48.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.16. Kyndryl had a negative return on equity of 11.38% and a negative net margin of 6.69%. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter in the prior year, the firm posted ($0.45) earnings per share. The business’s quarterly revenue was down 2.5% on a year-over-year basis. Sell-side analysts forecast that Kyndryl will post -0.24 EPS for the current year.

Kyndryl Company Profile

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.