Kyndryl Holdings, Inc. (NYSE:KD) Sees Large Decline in Short Interest

Kyndryl Holdings, Inc. (NYSE:KD) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 3,930,000 shares, a drop of 10.1% from the March 15th total of 4,370,000 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average daily volume of 1,520,000 shares, the days-to-cover ratio is currently 2.6 days.

Kyndryl Trading Down 1.9 %

Shares of NYSE KD traded down $0.38 during trading on Wednesday, hitting $19.69. The company had a trading volume of 1,171,490 shares, compared to its average volume of 1,238,500. The stock has a fifty day simple moving average of $21.60 and a two-hundred day simple moving average of $19.35. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.03. Kyndryl has a fifty-two week low of $11.35 and a fifty-two week high of $22.90.

Kyndryl (NYSE:KD) last posted its quarterly earnings data on Tuesday, February 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.14). Kyndryl had a negative return on equity of 7.39% and a negative net margin of 6.27%. The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Analysts predict that Kyndryl will post -0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Kyndryl

A number of large investors have recently modified their holdings of the business. Hennessy Advisors Inc. raised its holdings in Kyndryl by 14.1% in the 1st quarter. Hennessy Advisors Inc. now owns 1,592,000 shares of the company’s stock valued at $34,642,000 after acquiring an additional 196,800 shares during the last quarter. Atlas Capital Advisors LLC purchased a new stake in shares of Kyndryl in the first quarter valued at approximately $33,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Kyndryl in the first quarter valued at approximately $549,000. AdvisorNet Financial Inc boosted its stake in Kyndryl by 19.7% during the first quarter. AdvisorNet Financial Inc now owns 6,407 shares of the company’s stock worth $139,000 after buying an additional 1,054 shares during the last quarter. Finally, Wedmont Private Capital acquired a new position in Kyndryl during the first quarter worth $236,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on KD shares. Susquehanna upgraded shares of Kyndryl from a “neutral” rating to a “positive” rating and raised their price target for the company from $19.00 to $27.00 in a research report on Monday, February 12th. Evercore ISI upgraded Kyndryl from an “in-line” rating to an “outperform” rating and set a $26.00 price target on the stock in a research report on Monday, January 8th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $25.00.

About Kyndryl

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.