KT Corporation (NYSE:KT) Short Interest Up 19.9% in December

KT Corporation (NYSE:KT) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totaling 4,619,481 shares, a growth of 19.9% from the December 15th total of 3,851,633 shares. Based on an average daily trading volume, of 1,399,410 shares, the days-to-cover ratio is presently 3.3 days. Based on an average daily trading volume, of 1,399,410 shares, the days-to-cover ratio is presently 3.3 days.

Wall Street Analysts Forecast Growth

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

KT Stock Performance

KT traded up $0.05 during trading hours on Tuesday, hitting $19.54. 1,229,519 shares of the stock were exchanged, compared to its average volume of 1,825,691. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 0.17 and a beta of 0.65. The stock has a 50-day simple moving average of $18.65 and a 200-day simple moving average of $19.45. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 1.20. KT has a 12 month low of $16.25 and a 12 month high of $21.61.

Institutional Investors Weigh In On KT

Institutional investors have recently modified their holdings of the business. Triumph Capital Management acquired a new stake in KT during the third quarter worth about $47,000. First Horizon Advisors Inc. raised its position in shares of KT by 506.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,504 shares of the technology company’s stock worth $52,000 after purchasing an additional 2,091 shares during the period. Quantbot Technologies LP bought a new stake in shares of KT in the 3rd quarter worth approximately $81,000. SG Americas Securities LLC acquired a new position in KT during the 4th quarter valued at approximately $163,000. Finally, Farther Finance Advisors LLC grew its stake in KT by 267.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,358 shares of the technology company’s stock worth $174,000 after buying an additional 6,083 shares during the last quarter. 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.