KT (NYSE:KT) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

KT Corporation (NYSE:KT) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.40 and traded as high as $21.80. KT shares last traded at $21.78, with a volume of 1,590,388 shares trading hands.

Analyst Ratings Changes

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

KT Trading Up 2.4%

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 1.20. The firm’s 50-day simple moving average is $19.40 and its 200 day simple moving average is $19.40.

Institutional Trading of KT

Large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC boosted its stake in shares of KT by 18.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 34,857 shares of the technology company’s stock worth $724,000 after acquiring an additional 5,352 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of KT by 306.5% during the second quarter. SG Americas Securities LLC now owns 76,592 shares of the technology company’s stock valued at $1,592,000 after purchasing an additional 57,749 shares during the last quarter. Hosking Partners LLP purchased a new stake in shares of KT during the third quarter valued at $675,000. First Horizon Advisors Inc. boosted its position 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 valued at $52,000 after purchasing an additional 2,091 shares during the period. Finally, AdvisorShares Investments LLC increased its stake in KT by 22.0% in the 2nd quarter. AdvisorShares Investments LLC now owns 56,747 shares of the technology company’s stock worth $1,179,000 after purchasing an additional 10,251 shares in the last quarter. 18.86% of the stock is currently owned by institutional investors.

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.