Short Interest in Kinetik Holdings Inc. (NYSE:KNTK) Decreases By 14.0%

Kinetik Holdings Inc. (NYSE:KNTK) saw a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 7,715,320 shares, a drop of 14.0% from the January 15th total of 8,974,190 shares. Currently, 5.0% of the company’s shares are sold short. Based on an average daily volume of 1,258,481 shares, the short-interest ratio is presently 6.1 days. Based on an average daily volume of 1,258,481 shares, the short-interest ratio is presently 6.1 days. Currently, 5.0% of the company’s shares are sold short.

Insider Buying and Selling at Kinetik

In related news, insider Matthew Wall sold 8,083 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $36.05, for a total transaction of $291,392.15. Following the transaction, the insider owned 554,738 shares of the company’s stock, valued at approximately $19,998,304.90. This represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kinetik

A number of institutional investors have recently added to or reduced their stakes in KNTK. CWM LLC lifted its holdings in Kinetik by 89.8% during the 4th quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after buying an additional 352 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Kinetik by 101.5% in the 4th quarter. Signaturefd LLC now owns 802 shares of the company’s stock valued at $29,000 after acquiring an additional 404 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Kinetik during the 4th quarter valued at approximately $33,000. Los Angeles Capital Management LLC bought a new position in Kinetik during the fourth quarter worth $40,000. Finally, Huntington National Bank boosted its holdings in Kinetik by 139.1% in the fourth quarter. Huntington National Bank now owns 1,222 shares of the company’s stock worth $44,000 after purchasing an additional 711 shares during the period. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Trading Down 1.3%

NYSE:KNTK traded down $0.54 during trading hours on Tuesday, hitting $41.00. The stock had a trading volume of 832,827 shares, compared to its average volume of 1,132,214. The company has a market cap of $6.63 billion, a PE ratio of 97.62, a price-to-earnings-growth ratio of 1.01 and a beta of 0.73. The business has a 50 day simple moving average of $37.96 and a two-hundred day simple moving average of $38.69. Kinetik has a 1-year low of $31.33 and a 1-year high of $61.95.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Zacks Research lowered shares of Kinetik from a “hold” rating to a “strong sell” rating in a report on Monday, January 5th. Royal Bank Of Canada reduced their target price on Kinetik from $52.00 to $46.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Citigroup lowered their price target on Kinetik from $55.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 21st. Raymond James Financial set a $46.00 price objective on Kinetik in a report on Monday, January 5th. Finally, Mizuho set a $48.00 target price on Kinetik in a report on Wednesday, October 29th. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Kinetik currently has an average rating of “Hold” and an average target price of $46.00.

About Kinetik

Kinetik (NYSE: KNTK) is a publicly listed midstream energy company focused on the development, operation and management of natural gas infrastructure across the United States. The company’s core business activities include the gathering, compression, processing, storage and transportation of natural gas, serving producers, utilities and industrial consumers. By integrating a suite of midstream services under a single platform, Kinetik aims to provide efficient, cost-effective and reliable solutions across the natural gas value chain.

The company was established in 2021 when assets were acquired from Talen Energy by a subsidiary of ArcLight Capital Partners, forming a comprehensive portfolio of pipelines, compression facilities and underground storage assets.