KT (NYSE:KT) Sets New 1-Year High – Time to Buy?

KT Corporation (NYSE:KT)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $24.58 and last traded at $24.46, with a volume of 952045 shares. The stock had previously closed at $24.15.

Analyst Upgrades and Downgrades

KT has been the topic of several research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of KT in a research note on Monday, December 29th. Zacks Research upgraded shares of KT from a “strong sell” rating to a “hold” rating in a report on Thursday, January 8th. Finally, Wall Street Zen cut KT from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 28th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, KT presently has an average rating of “Hold”.

KT Trading Up 1.6%

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.24. The business’s 50 day simple moving average is $20.32 and its 200 day simple moving average is $19.61.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio increased its stake in KT by 59.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 97,145 shares of the technology company’s stock worth $1,843,000 after acquiring an additional 36,105 shares during the last quarter. Captrust Financial Advisors acquired a new stake in shares of KT during the 4th quarter worth about $1,047,000. Arax Advisory Partners raised its holdings in KT by 512.7% in the 4th quarter. Arax Advisory Partners now owns 10,918 shares of the technology company’s stock valued at $207,000 after buying an additional 9,136 shares during the period. Arkadios Wealth Advisors raised its holdings in KT by 105.6% in the 4th quarter. Arkadios Wealth Advisors now owns 20,853 shares of the technology company’s stock valued at $396,000 after buying an additional 10,712 shares during the period. Finally, Westpac Banking Corp acquired a new position in KT in the fourth quarter valued at about $157,000. 18.86% of the stock is currently owned by institutional investors and hedge funds.

About KT

KT Corporation, listed on the New York Stock Exchange as an American depositary receipt under the symbol KT, is a major telecommunications and information technology provider headquartered in Seongnam, South Korea. The company’s services span traditional fixed-line voice communication, high-speed broadband internet access and mobile cellular networks. Leveraging an extensive fiber-optic and wireless infrastructure, KT delivers voice, data and multimedia solutions to both consumer and enterprise customers.

KT has been at the forefront of technological innovation in its home market, launching South Korea’s first commercial 5G network and expanding its offerings to include Internet of Things (IoT) platforms, cloud computing services and cybersecurity solutions.