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

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 currently 3.3 days. Based on an average daily trading volume, of 1,399,410 shares, the days-to-cover ratio is currently 3.3 days.

Wall Street Analysts Forecast Growth

KT has been the topic of several analyst reports. Wall Street Zen lowered shares of KT from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 28th. Weiss Ratings restated a “hold (c+)” rating on shares of KT in a research note on Monday, December 29th. Finally, Zacks Research upgraded shares of KT from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 8th. Two research 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.com, the stock currently has a consensus rating of “Moderate Buy”.

Hedge Funds Weigh In On KT

A number of large investors have recently made changes to their positions in KT. Triumph Capital Management bought a new stake in KT in the 3rd quarter valued at $47,000. First Horizon Advisors Inc. lifted its holdings in shares of KT by 506.3% during 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 in the last quarter. Quantbot Technologies LP bought a new stake in shares of KT in the third quarter valued at about $81,000. Farther Finance Advisors LLC boosted its position in shares of KT by 267.4% in the second quarter. Farther Finance Advisors LLC now owns 8,358 shares of the technology company’s stock valued at $174,000 after acquiring an additional 6,083 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of KT in the fourth quarter valued at about $163,000. Institutional investors own 18.86% of the company’s stock.

KT Stock Performance

Shares of KT stock opened at $19.54 on Wednesday. KT has a 52 week low of $16.25 and a 52 week high of $21.61. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 0.17 and a beta of 0.65. The company has a 50-day simple moving average of $18.67 and a 200 day simple moving average of $19.43. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.24.

KT Company Profile

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.