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

Kyndryl Holdings, Inc. (NYSE:KD) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 9,320,000 shares, a decline 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 presently 5.3 days. Currently, 4.1% of the company’s shares are short sold.

Kyndryl Trading Up 2.2 %

KD traded up $0.50 on Wednesday, hitting $23.48. The company had a trading volume of 1,704,822 shares, compared to its average volume of 1,690,567. The company’s fifty day moving average price is $24.33 and its 200 day moving average price is $23.95. Kyndryl has a 1 year low of $13.87 and a 1 year high of $28.60. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.82. The firm has a market cap of $5.41 billion, a P/E ratio of -15.40, a PEG ratio of 4.77 and a beta of 1.64.

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Kyndryl in the 4th quarter valued at $54,283,000. Hennessy Advisors Inc. acquired a new position in Kyndryl in the 4th quarter valued at about $28,992,000. Greenlight Capital Inc. increased its stake in Kyndryl by 13.7% during the fourth quarter. Greenlight Capital Inc. now owns 6,356,069 shares of the company’s stock worth $132,079,000 after purchasing an additional 767,943 shares during the period. Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Kyndryl during the first quarter worth about $16,588,000. Finally, Great Lakes Advisors LLC purchased a new position in shares of Kyndryl in the second quarter valued at approximately $19,996,000. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

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.