Kyndryl Holdings, Inc. (NYSE:KD) Short Interest Down 10.1% in March

Kyndryl Holdings, Inc. (NYSE:KD) saw a significant drop in short interest during 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 trading volume, of 1,520,000 shares, the days-to-cover ratio is presently 2.6 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KD. Susquehanna raised shares of Kyndryl from a “neutral” rating to a “positive” rating and boosted their price objective 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 for the company in a research report on Monday, January 8th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kyndryl currently has an average rating of “Buy” and an average target price of $25.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its holdings in shares of Kyndryl by 3,628.6% in the second quarter. Goldman Sachs Group Inc. now owns 17,387,317 shares of the company’s stock worth $170,048,000 after purchasing an additional 16,920,997 shares during the last quarter. Deutsche Bank AG increased its stake in Kyndryl by 1,266.6% in the 3rd quarter. Deutsche Bank AG now owns 4,865,411 shares of the company’s stock worth $73,468,000 after acquiring an additional 4,509,381 shares during the last quarter. Norges Bank purchased a new stake in shares of Kyndryl during the 4th quarter worth approximately $54,283,000. BlackRock Inc. boosted its position in shares of Kyndryl by 12.6% during the 3rd quarter. BlackRock Inc. now owns 18,909,290 shares of the company’s stock valued at $156,379,000 after acquiring an additional 2,123,293 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in shares of Kyndryl by 58.8% in the third quarter. Neuberger Berman Group LLC now owns 4,910,549 shares of the company’s stock valued at $40,658,000 after purchasing an additional 1,818,983 shares in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Trading Down 1.9 %

Shares of KD stock traded down $0.38 on Wednesday, hitting $19.69. 1,171,490 shares of the stock traded hands, compared to its average volume of 1,238,500. 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 52 week low of $11.35 and a 52 week high of $22.90. The firm has a 50 day simple moving average of $21.60 and a two-hundred day simple moving average of $19.35.

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

Kyndryl Company Profile

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.