KT (NYSE:KT) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

KT Corporation (NYSE:KT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.40 and traded as high as $20.05. KT shares last traded at $19.95, with a volume of 1,180,883 shares.

Wall Street Analysts Forecast Growth

KT has been the topic of a number of recent analyst reports. Zacks Research raised shares of KT from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of KT in a research report on Monday, December 29th. Finally, Wall Street Zen lowered KT from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 28th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, KT has an average rating of “Moderate Buy”.

KT Trading Up 0.2%

The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. The company has a market cap of $10.27 billion, a PE ratio of 14.25, a P/E/G ratio of 0.19 and a beta of 0.65. The company has a fifty day simple moving average of $18.81 and a two-hundred day simple moving average of $19.40.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KT. Triumph Capital Management acquired a new position in KT during the 3rd quarter worth approximately $47,000. First Horizon Advisors Inc. grew its stake in shares of KT by 506.3% during the second quarter. First Horizon Advisors Inc. now owns 2,504 shares of the technology company’s stock worth $52,000 after purchasing an additional 2,091 shares in the last quarter. Quantbot Technologies LP purchased a new position in KT in the third quarter valued at $81,000. SG Americas Securities LLC acquired a new stake in KT in the fourth quarter valued at $163,000. Finally, Farther Finance Advisors LLC lifted its holdings in KT by 267.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,358 shares of the technology company’s stock worth $174,000 after buying an additional 6,083 shares during the last quarter. Hedge funds and other institutional investors own 18.86% of the company’s stock.

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.