KT (NYSE:KT) Shares Cross Above 200-Day Moving Average – Here’s Why

KT Corporation (NYSE:KT)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.53 and traded as high as $23.80. KT shares last traded at $23.74, with a volume of 3,049,748 shares changing hands.

Analysts Set New Price Targets

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

KT Price Performance

The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. The firm has a fifty day moving average of $19.99 and a two-hundred day moving average of $19.53.

Institutional Investors Weigh In On KT

Institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its position in shares of KT by 1.2% in the second quarter. Lazard Asset Management LLC now owns 3,250,513 shares of the technology company’s stock valued at $67,545,000 after acquiring an additional 37,744 shares during the period. Millennium Management LLC grew its stake in shares of KT by 4,148.2% in the first quarter. Millennium Management LLC now owns 530,817 shares of the technology company’s stock worth $9,401,000 after purchasing an additional 518,322 shares during the last quarter. Natixis Advisors LLC increased its holdings in KT by 39.8% during the 3rd quarter. Natixis Advisors LLC now owns 280,713 shares of the technology company’s stock valued at $5,474,000 after purchasing an additional 79,891 shares during the period. Jane Street Group LLC raised its position in KT by 107.9% during the 1st quarter. Jane Street Group LLC now owns 242,212 shares of the technology company’s stock valued at $4,290,000 after purchasing an additional 125,702 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in KT by 1.1% in the 1st quarter. Royal Bank of Canada now owns 102,808 shares of the technology company’s stock worth $1,820,000 after buying an additional 1,078 shares during the period. Hedge funds and other institutional investors own 18.86% of the company’s stock.

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.