Kyndryl Holdings, Inc. (NYSE:KD) Short Interest Update

Kyndryl Holdings, Inc. (NYSE:KD) saw 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. Based on an average trading volume of 1,520,000 shares, the short-interest ratio is currently 2.6 days. Approximately 1.7% of the company’s stock are sold short.

Kyndryl Stock Down 1.9 %

NYSE KD traded down $0.38 during trading hours on Wednesday, hitting $19.69. 1,171,490 shares of the company’s stock traded hands, compared to its average volume of 1,238,500. The business’s fifty day moving average price is $21.60 and its two-hundred day moving average price is $19.35. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.94 and a current ratio of 0.94. Kyndryl has a 52 week low of $11.35 and a 52 week high of $22.90.

Kyndryl (NYSE:KD) last announced its earnings results on Tuesday, February 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.14). The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. Kyndryl had a negative net margin of 6.27% and a negative return on equity of 7.39%. On average, research analysts expect that Kyndryl will post -0.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

KD has been the subject of several recent analyst reports. Susquehanna raised shares of Kyndryl from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $19.00 to $27.00 in a report on Monday, February 12th. Evercore ISI raised shares of Kyndryl from an “in-line” rating to an “outperform” rating and set a $26.00 target price for the company in a report on Monday, January 8th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $25.00.

Hedge Funds Weigh In On Kyndryl

A number of hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of Kyndryl by 6.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 148,331 shares of the company’s stock worth $1,946,000 after acquiring an additional 8,824 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Kyndryl by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 1,604,898 shares of the company’s stock worth $21,054,000 after acquiring an additional 6,965 shares during the last quarter. Natixis Advisors L.P. bought a new position in shares of Kyndryl during the first quarter worth $203,000. MetLife Investment Management LLC boosted its position in shares of Kyndryl by 34.6% during the first quarter. MetLife Investment Management LLC now owns 116,861 shares of the company’s stock worth $1,533,000 after acquiring an additional 30,050 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Kyndryl by 1.8% during the first quarter. Rhumbline Advisers now owns 524,670 shares of the company’s stock worth $6,884,000 after acquiring an additional 9,314 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors.

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.