KT (NYSE:KT) Sets New 1-Year High – Here’s Why

Shares of KT Co. (NYSE:KT) hit a new 52-week high during trading on Monday . The stock traded as high as $18.55 and last traded at $18.51, with a volume of 63924 shares traded. The stock had previously closed at $18.28.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on KT shares. UBS Group started coverage on shares of KT in a research report on Wednesday, February 19th. They set a “buy” rating for the company. The Goldman Sachs Group raised shares of KT from a “neutral” rating to a “buy” rating in a research report on Monday, March 3rd. Finally, StockNews.com lowered shares of KT from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 20th.

KT Stock Down 1.4 %

The firm’s 50-day moving average price is $17.23 and its 200-day moving average price is $16.31. The company has a market cap of $9.47 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 0.37 and a beta of 0.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.04 and a quick ratio of 0.98.

Institutional Investors Weigh In On KT

Several large investors have recently made changes to their positions in the business. Vise Technologies Inc. increased its position in shares of KT by 37.8% in the fourth quarter. Vise Technologies Inc. now owns 53,388 shares of the technology company’s stock worth $829,000 after acquiring an additional 14,639 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in KT during the 4th quarter valued at $1,566,000. Two Sigma Advisers LP grew its holdings in KT by 38.5% during the 4th quarter. Two Sigma Advisers LP now owns 570,300 shares of the technology company’s stock valued at $8,851,000 after purchasing an additional 158,500 shares in the last quarter. Two Sigma Investments LP grew its holdings in KT by 33.3% during the 4th quarter. Two Sigma Investments LP now owns 898,442 shares of the technology company’s stock valued at $13,944,000 after purchasing an additional 224,541 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in KT during the 4th quarter valued at $6,624,000. Institutional investors and hedge funds own 18.86% of the company’s stock.

About KT

KT Corporation provides integrated telecommunications and platform services in Korea and internationally. The company offers mobile voice and data telecommunications services based on 5G, 4G LTE and 3G W-CDMA technology; fixed-line telephone services, including local, domestic long-distance, international long-distance, and voice over Internet protocol telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services; and data communication services, such as fixed-line and leased line services, as well as broadband Internet connection services.