KT (NYSE:KT) Reaches New 52-Week High – Here’s Why

KT Co. (NYSE:KT) hit a new 52-week high during trading on Friday . The stock traded as high as $18.45 and last traded at $18.29, with a volume of 130469 shares trading hands. The stock had previously closed at $18.29.

Analyst Upgrades and Downgrades

KT has been the topic of several recent analyst reports. New Street Research raised KT to a “strong-buy” rating in a research report on Monday, September 9th. StockNews.com raised shares of KT from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 16th.

KT Stock Down 0.8 %

The stock has a market cap of $9.36 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 1.34 and a beta of 0.90. The firm has a 50 day simple moving average of $15.73 and a 200-day simple moving average of $14.60. The company has a quick ratio of 0.98, a current ratio of 1.04 and a debt-to-equity ratio of 0.28.

Hedge Funds Weigh In On KT

Several large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its stake in shares of KT by 41.9% during the first quarter. EverSource Wealth Advisors LLC now owns 4,278 shares of the technology company’s stock worth $60,000 after purchasing an additional 1,264 shares during the period. Venturi Wealth Management LLC grew its holdings in KT by 3,915.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 4,578 shares of the technology company’s stock valued at $70,000 after buying an additional 4,464 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in KT during the 2nd quarter worth $140,000. MML Investors Services LLC bought a new position in KT during the 3rd quarter worth $160,000. Finally, Private Advisor Group LLC bought a new stake in shares of KT in the third quarter valued at about $164,000. 18.86% of the stock is owned by institutional investors.

About KT

KT Corporation provides integrated telecommunications and platform services in Korea and internationally. The company offers mobile voice and data telecommunications services based on 5G, 4G LTE and 3G W-CDMA technology; fixed-line telephone services, including local, domestic long-distance, international long-distance, and voice over Internet protocol telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services; and data communication services, such as fixed-line and leased line services, as well as broadband Internet connection services.