Kyndryl Holdings, Inc. (NYSE:KD) Short Interest Update

Kyndryl Holdings, Inc. (NYSE:KD) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 9,780,000 shares, an increase of 10.3% from the September 15th total of 8,870,000 shares. Currently, 4.3% of the company’s shares are sold short. Based on an average daily volume of 1,600,000 shares, the short-interest ratio is presently 6.1 days.

Analysts Set New Price Targets

Separately, Oppenheimer began coverage on Kyndryl in a research report on Thursday, June 27th. They issued an “outperform” rating and a $33.00 price target on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $29.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KD. Tidal Investments LLC grew its stake in Kyndryl by 240.7% in the 1st quarter. Tidal Investments LLC now owns 55,778 shares of the company’s stock valued at $1,214,000 after purchasing an additional 39,408 shares during the period. Bleakley Financial Group LLC grew its position in Kyndryl by 11.8% during the first quarter. Bleakley Financial Group LLC now owns 15,307 shares of the company’s stock valued at $333,000 after buying an additional 1,621 shares during the period. Sei Investments Co. increased its holdings in Kyndryl by 23.4% during the first quarter. Sei Investments Co. now owns 260,771 shares of the company’s stock worth $5,674,000 after buying an additional 49,520 shares during the last quarter. SG Americas Securities LLC bought a new stake in Kyndryl in the second quarter worth about $1,418,000. Finally, Acadian Asset Management LLC purchased a new position in Kyndryl in the first quarter valued at about $26,000. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Stock Up 0.4 %

Shares of NYSE KD traded up $0.10 during midday trading on Wednesday, hitting $25.03. 947,344 shares of the stock traded hands, compared to its average volume of 1,660,179. The company has a debt-to-equity ratio of 2.82, a quick ratio of 1.03 and a current ratio of 1.03. The business has a 50 day moving average price of $23.33 and a two-hundred day moving average price of $24.21. Kyndryl has a one year low of $13.87 and a one year high of $28.60. The company has a market cap of $5.77 billion, a PE ratio of -16.73, a P/E/G ratio of 5.42 and a beta of 1.63.

Kyndryl (NYSE:KD) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.78 billion. Kyndryl had a negative return on equity of 3.28% and a negative net margin of 1.21%. On average, equities analysts predict that Kyndryl will post 0.89 EPS for the current year.

About Kyndryl

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.