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

Kyndryl Holdings, Inc. (NYSE:KD) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 9,320,000 shares, a decrease of 12.2% from the August 15th total of 10,610,000 shares. Currently, 4.1% of the shares of the stock are sold short. Based on an average daily volume of 1,760,000 shares, the short-interest ratio is presently 5.3 days.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Kyndryl

A number of hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in Kyndryl during the first quarter worth $26,000. ORG Partners LLC grew its holdings in Kyndryl by 622.4% during the 1st quarter. ORG Partners LLC now owns 1,416 shares of the company’s stock worth $31,000 after acquiring an additional 1,220 shares during the period. Fortis Group Advisors LLC raised its position in shares of Kyndryl by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock worth $33,000 after acquiring an additional 800 shares in the last quarter. Atlas Capital Advisors LLC acquired a new position in shares of Kyndryl in the 1st quarter valued at about $33,000. Finally, Headlands Technologies LLC boosted its position in shares of Kyndryl by 60.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,475 shares of the company’s stock valued at $39,000 after purchasing an additional 554 shares in the last quarter. 71.53% of the stock is currently owned by institutional investors.

Kyndryl Trading Up 2.1 %

KD traded up $0.48 during trading on Wednesday, reaching $23.46. 1,704,822 shares of the company’s stock were exchanged, compared to its average volume of 1,690,567. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.82. Kyndryl has a one year low of $13.87 and a one year high of $28.60. The firm has a fifty day moving average price of $24.33 and a two-hundred day moving average price of $23.95. The stock has a market capitalization of $5.41 billion, a PE ratio of -15.40, a price-to-earnings-growth ratio of 4.77 and a beta of 1.64.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.78 billion. Kyndryl had a negative net margin of 1.21% and a negative return on equity of 3.28%. As a group, equities research analysts forecast that Kyndryl will post 0.95 earnings per share for the current fiscal 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.