Short Interest in Kyndryl Holdings, Inc. (NYSE:KD) Increases By 10.3%

Kyndryl Holdings, Inc. (NYSE:KD) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 9,780,000 shares, an increase of 10.3% from the September 15th total of 8,870,000 shares. Based on an average daily volume of 1,600,000 shares, the days-to-cover ratio is presently 6.1 days. Currently, 4.3% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Oppenheimer assumed coverage on shares of Kyndryl in a report on Thursday, June 27th. They issued an “outperform” rating and a $33.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $29.40.

Institutional Trading of Kyndryl

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mesirow Institutional Investment Management Inc. bought a new stake in Kyndryl in the 1st quarter worth approximately $16,588,000. Great Lakes Advisors LLC purchased a new position in shares of Kyndryl during the second quarter worth approximately $19,996,000. Renaissance Technologies LLC lifted its holdings in shares of Kyndryl by 32.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company’s stock worth $72,768,000 after acquiring an additional 675,800 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Kyndryl by 101.1% in the 2nd quarter. Millennium Management LLC now owns 1,011,420 shares of the company’s stock valued at $26,610,000 after purchasing an additional 508,553 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Kyndryl by 392.1% during the 2nd quarter. AQR Capital Management LLC now owns 631,299 shares of the company’s stock valued at $16,578,000 after purchasing an additional 503,020 shares during the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Kyndryl Price Performance

Shares of Kyndryl stock traded up $0.10 on Wednesday, reaching $25.03. The stock had a trading volume of 947,344 shares, compared to its average volume of 1,660,179. The business’s 50 day moving average is $23.33 and its two-hundred day moving average is $24.21. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.82. Kyndryl has a 1 year low of $13.87 and a 1 year high of $28.60. The company has a market cap of $5.77 billion, a P/E ratio of -16.73, a price-to-earnings-growth ratio of 5.42 and a beta of 1.63.

Kyndryl (NYSE:KD) last announced its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.78 billion. Kyndryl had a negative return on equity of 3.28% and a negative net margin of 1.21%. As a group, research analysts anticipate that Kyndryl will post 0.89 EPS for the current year.

Kyndryl Company Profile

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.