Kyndryl (NYSE:KD) Hits New 1-Year High – Here’s What Happened

Kyndryl Holdings, Inc. (NYSE:KD) reached a new 52-week high on Tuesday . The stock traded as high as $28.71 and last traded at $28.71, with a volume of 174597 shares changing hands. The stock had previously closed at $28.08.

Kyndryl Price Performance

The stock has a 50 day moving average of $23.85 and a 200-day moving average of $24.71. The stock has a market capitalization of $6.51 billion, a P/E ratio of -72.05, a price-to-earnings-growth ratio of 6.78 and a beta of 1.63. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.82.

Hedge Funds Weigh In On Kyndryl

A number of hedge funds have recently made changes to their positions in KD. Tidal Investments LLC boosted its stake in shares of Kyndryl by 240.7% in the 1st quarter. Tidal Investments LLC now owns 55,778 shares of the company’s stock valued at $1,214,000 after buying an additional 39,408 shares during the period. Bleakley Financial Group LLC lifted its holdings in Kyndryl by 11.8% in the 1st quarter. Bleakley Financial Group LLC now owns 15,307 shares of the company’s stock worth $333,000 after buying an additional 1,621 shares in the last quarter. Sei Investments Co. raised its stake in Kyndryl by 23.4% during the first quarter. Sei Investments Co. now owns 260,771 shares of the company’s stock valued at $5,674,000 after buying an additional 49,520 shares in the last quarter. SG Americas Securities LLC bought a new position in Kyndryl during the 2nd quarter worth $1,418,000. Finally, Acadian Asset Management LLC acquired a new position in Kyndryl during the 1st quarter worth $26,000. Institutional investors and hedge funds own 71.53% of the company’s stock.

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.