Short Interest in KT Corp (KT) Expands By 53.5%

KT Corp (NYSE:KT) was the target of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 2,722,232 shares, an increase of 53.5% from the January 12th total of 1,773,532 shares. Based on an average daily volume of 1,091,970 shares, the short-interest ratio is currently 2.5 days.

Shares of KT (KT) opened at $13.10 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.02 and a debt-to-equity ratio of 0.40. KT has a 12-month low of $12.70 and a 12-month high of $18.82.

Large investors have recently modified their holdings of the stock. ETRADE Capital Management LLC purchased a new stake in shares of KT in the 4th quarter valued at approximately $190,000. Landscape Capital Management L.L.C. purchased a new stake in shares of KT in the 4th quarter valued at approximately $218,000. Zeke Capital Advisors LLC purchased a new stake in shares of KT in the 4th quarter valued at approximately $268,000. Hosking Partners LLP purchased a new stake in shares of KT in the 3rd quarter valued at approximately $343,000. Finally, Citadel Advisors LLC lifted its position in shares of KT by 27.3% in the 4th quarter. Citadel Advisors LLC now owns 25,704 shares of the technology company’s stock valued at $401,000 after acquiring an additional 5,516 shares in the last quarter. Institutional investors and hedge funds own 24.26% of the company’s stock.

Several analysts recently commented on the stock. CLSA lowered shares of KT from an “outperform” rating to an “underperform” rating in a research note on Wednesday, January 24th. Zacks Investment Research raised shares of KT from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Tuesday, January 23rd. Morgan Stanley lowered shares of KT from an “equal weight” rating to an “underweight” rating in a research note on Thursday, January 11th. ValuEngine raised shares of KT from a “hold” rating to a “buy” rating in a research note on Monday, November 27th. Finally, Credit Suisse Group downgraded shares of KT from an “outperform” rating to a “neutral” rating in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $18.00.

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About KT

KT Corporation is a telecommunications service provider. The Company’s segments include the Customer/Marketing Group, the Finance Business Group and the Others Group. The Customer/Marketing Group segment is engaged in providing various telecommunication services to individual/home/corporate customers and the convergence business.

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