Short Interest in Kyndryl Holdings, Inc. (NYSE:KD) Decreases By 12.2%

Kyndryl Holdings, Inc. (NYSE:KD) saw a significant decrease in short interest in 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 company are sold short. Based on an average daily volume of 1,760,000 shares, the days-to-cover ratio is presently 5.3 days.

Institutional Investors Weigh In On Kyndryl

A number of hedge funds and other institutional investors have recently made changes to their positions in KD. Victory Capital Management Inc. raised its holdings in shares of Kyndryl by 18.6% during the 4th quarter. Victory Capital Management Inc. now owns 46,941 shares of the company’s stock valued at $975,000 after purchasing an additional 7,350 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Kyndryl by 37.4% in the 4th quarter. Teacher Retirement System of Texas now owns 27,913 shares of the company’s stock valued at $580,000 after buying an additional 7,592 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Kyndryl by 30.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 20,864 shares of the company’s stock valued at $434,000 after acquiring an additional 4,822 shares during the period. Norges Bank acquired a new position in shares of Kyndryl during the 4th quarter worth about $54,283,000. Finally, Corient Private Wealth LLC boosted its stake in Kyndryl by 19.1% during the 4th quarter. Corient Private Wealth LLC now owns 40,150 shares of the company’s stock valued at $834,000 after purchasing an additional 6,431 shares during the period. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Trading Up 2.2 %

Kyndryl stock traded up $0.50 during midday trading on Wednesday, reaching $23.48. The stock had a trading volume of 1,704,822 shares, compared to its average volume of 1,690,567. Kyndryl has a twelve month low of $13.87 and a twelve month high of $28.60. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of -15.76, a PEG ratio of 4.77 and a beta of 1.64. The firm’s fifty day simple moving average is $24.29 and its two-hundred day simple moving average is $23.95.

Kyndryl (NYSE:KD) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. Kyndryl had a negative return on equity of 3.28% and a negative net margin of 1.21%. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.78 billion. Equities analysts anticipate that Kyndryl will post 0.95 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.