KT (NYSE:KT) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

KT Corporation (NYSE:KT)’s share price passed 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 $20.05. KT shares last traded at $19.95, with a volume of 1,180,883 shares changing hands.

Wall Street Analyst Weigh In

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

KT Stock Performance

The stock has a 50-day moving average of $18.81 and a 200 day moving average of $19.40. The stock has a market cap of $10.27 billion, a PE ratio of 14.25, a P/E/G ratio of 0.19 and a beta of 0.65. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.42.

Institutional Investors Weigh In On KT

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

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.