Kyndryl Holdings, Inc. (NYSE:KD) Sees Large Increase in Short Interest

Kyndryl Holdings, Inc. (NYSE:KDGet Free Report) saw a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 5,480,000 shares, a growth of 12.1% from the May 15th total of 4,890,000 shares. Approximately 2.4% of the company’s shares are short sold. Based on an average daily trading volume, of 1,820,000 shares, the short-interest ratio is presently 3.0 days.

Kyndryl Price Performance

Shares of NYSE:KD traded up $0.07 during midday trading on Tuesday, reaching $25.42. 1,615,438 shares of the company’s stock were exchanged, compared to its average volume of 1,702,311. The company’s 50 day simple moving average is $24.11 and its two-hundred day simple moving average is $22.04. The firm has a market capitalization of $5.86 billion, a PE ratio of -17.06, a price-to-earnings-growth ratio of 5.87 and a beta of 1.70. Kyndryl has a 12 month low of $11.92 and a 12 month high of $28.60. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.03 and a current ratio of 1.03.

Kyndryl (NYSE:KDGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.11. Kyndryl had a negative net margin of 2.12% and a negative return on equity of 4.11%. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period last year, the firm posted ($0.21) EPS. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. Equities research analysts expect that Kyndryl will post 0.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KD has been the topic of several analyst reports. Scotiabank raised their price target on shares of Kyndryl from $28.00 to $30.00 and gave the company a “sector outperform” rating in a research note on Monday, May 13th. Susquehanna raised their price target on shares of Kyndryl from $27.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, May 9th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $28.50.

Check Out Our Latest Research Report on KD

Insider Activity

In related news, SVP Vineet Khurana sold 30,430 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $26.36, for a total transaction of $802,134.80. Following the completion of the sale, the senior vice president now directly owns 78,722 shares of the company’s stock, valued at approximately $2,075,111.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.04% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Zimmer Partners LP grew its holdings in Kyndryl by 1.3% during the first quarter. Zimmer Partners LP now owns 2,542,885 shares of the company’s stock valued at $55,333,000 after purchasing an additional 32,000 shares during the period. Castleark Management LLC lifted its stake in Kyndryl by 21.7% in the first quarter. Castleark Management LLC now owns 312,130 shares of the company’s stock valued at $6,792,000 after buying an additional 55,750 shares in the last quarter. Tidal Investments LLC lifted its stake in Kyndryl by 240.7% in the first quarter. Tidal Investments LLC now owns 55,778 shares of the company’s stock valued at $1,214,000 after buying an additional 39,408 shares in the last quarter. Virtus Investment Advisers Inc. bought a new position in Kyndryl in the first quarter valued at approximately $385,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Kyndryl by 3.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,053,758 shares of the company’s stock valued at $44,690,000 after buying an additional 73,580 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

About Kyndryl

(Get Free Report)

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.

Further Reading

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