Short Interest in KT Co. (NYSE:KT) Increases By 13.7%

KT Co. (NYSE:KT) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 2,410,000 shares, a growth of 13.7% from the September 30th total of 2,120,000 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average trading volume of 633,600 shares, the short-interest ratio is currently 3.8 days.

Institutional Investors Weigh In On KT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of KT by 41.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,278 shares of the technology company’s stock worth $60,000 after acquiring an additional 1,264 shares during the last quarter. Crewe Advisors LLC purchased a new position in KT during the 1st quarter valued at $98,000. Envestnet Portfolio Solutions Inc. purchased a new stake in KT in the second quarter worth $140,000. Private Advisor Group LLC bought a new stake in KT during the 3rd quarter valued at about $164,000. Finally, Aprio Wealth Management LLC purchased a new position in shares of KT during the second quarter worth approximately $151,000. 18.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KT has been the subject of a number of recent research reports. The Goldman Sachs Group cut KT from a “buy” rating to a “neutral” rating in a research note on Thursday, July 11th. New Street Research raised KT to a “strong-buy” rating in a research report on Monday, September 9th. Finally, StockNews.com upgraded KT from a “buy” rating to a “strong-buy” rating in a report on Friday, August 23rd.

KT Stock Performance

KT stock traded down $0.04 during midday trading on Thursday, reaching $15.77. 144,407 shares of the company’s stock traded hands, compared to its average volume of 738,493. The stock’s 50-day moving average is $15.30 and its 200 day moving average is $14.07. The stock has a market cap of $8.13 billion, a P/E ratio of 9.53, a PEG ratio of 0.75 and a beta of 0.90. KT has a 52-week low of $12.07 and a 52-week high of $15.99. The company has a current ratio of 1.08, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

KT (NYSE:KT) last announced its quarterly earnings data on Monday, August 26th. The technology company reported $0.58 earnings per share (EPS) for the quarter. KT had a return on equity of 5.60% and a net margin of 4.07%. The company had revenue of $4.77 billion during the quarter. As a group, analysts anticipate that KT will post 1.86 EPS for the current year.

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.