Short Interest in Kyndryl Holdings, Inc. (NYSE:KD) Expands By 12.1%

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

Insider Activity at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 30,430 shares of Kyndryl stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $26.36, for a total value of $802,134.80. Following the sale, the senior vice president now directly owns 78,722 shares in the company, valued at approximately $2,075,111.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.04% of the stock is owned by insiders.

Hedge Funds Weigh In On Kyndryl

A number of hedge funds have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC acquired a new position in Kyndryl in the 3rd quarter valued at $242,000. Pathstone Family Office LLC acquired a new position in Kyndryl in the third quarter valued at about $223,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in Kyndryl by 22.0% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 78,944 shares of the company’s stock worth $1,192,000 after purchasing an additional 14,217 shares during the period. Texas Permanent School Fund Corp grew its stake in Kyndryl by 8.0% during the third quarter. Texas Permanent School Fund Corp now owns 194,393 shares of the company’s stock worth $2,935,000 after buying an additional 14,433 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Kyndryl by 6.7% in the 3rd quarter. Rhumbline Advisers now owns 703,921 shares of the company’s stock valued at $10,629,000 after buying an additional 44,372 shares during the period. 71.53% of the stock is owned by institutional investors.

Kyndryl Stock Performance

Kyndryl stock traded up $0.07 during trading hours on Tuesday, hitting $25.42. The company had a trading volume of 1,615,438 shares, compared to its average volume of 1,702,311. The firm has a 50-day moving average of $24.04 and a 200 day moving average of $21.99. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $5.86 billion, a PE ratio of -17.01, a PEG ratio of 5.87 and a beta of 1.70. Kyndryl has a one year low of $11.92 and a one year high of $28.60.

Kyndryl (NYSE:KD) last announced its earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.11. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.76 billion. Kyndryl had a negative return on equity of 4.11% and a negative net margin of 2.12%. The firm’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.21) earnings per share. On average, sell-side analysts expect that Kyndryl will post 0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.