Kyndryl Holdings, Inc. (NYSE:KD) Short Interest Down 12.2% in August

Kyndryl Holdings, Inc. (NYSE:KD) was the target of 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. Based on an average trading volume of 1,760,000 shares, the short-interest ratio is currently 5.3 days. Currently, 4.1% of the company’s stock are short sold.

Kyndryl Stock Performance

Kyndryl stock traded up $0.48 during mid-day trading on Wednesday, hitting $23.46. 1,704,822 shares of the company’s stock traded hands, compared to its average volume of 1,690,567. 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 50 day simple moving average of $24.33 and a two-hundred day simple moving average of $23.95. Kyndryl has a fifty-two week low of $13.87 and a fifty-two week high of $28.60. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of -15.40, a P/E/G ratio of 4.77 and a beta of 1.64.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its stake in Kyndryl by 33.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company’s stock worth $44,000 after buying an additional 422 shares in the last quarter. Simplicity Wealth LLC boosted its position in shares of Kyndryl by 3.0% during the 2nd quarter. Simplicity Wealth LLC now owns 15,745 shares of the company’s stock worth $414,000 after acquiring an additional 454 shares in the last quarter. Headlands Technologies LLC increased its stake in Kyndryl by 60.2% in the second quarter. Headlands Technologies LLC now owns 1,475 shares of the company’s stock valued at $39,000 after acquiring an additional 554 shares during the last quarter. SummerHaven Investment Management LLC raised its position in Kyndryl by 1.0% during the second quarter. SummerHaven Investment Management LLC now owns 57,493 shares of the company’s stock valued at $1,513,000 after purchasing an additional 563 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC raised its position in Kyndryl by 0.8% during the first quarter. Alpha Omega Wealth Management LLC now owns 95,307 shares of the company’s stock valued at $2,074,000 after purchasing an additional 730 shares in the last quarter. 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.