Kyndryl (NYSE:KD) Hits New 1-Year High – Here’s Why

Kyndryl Holdings, Inc. (NYSE:KD) hit a new 52-week high on Thursday . The stock traded as high as $29.09 and last traded at $29.09, with a volume of 5402 shares changing hands. The stock had previously closed at $28.53.

Kyndryl Price Performance

The company’s fifty day moving average is $24.48 and its two-hundred day moving average is $25.06. The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of -78.43, a price-to-earnings-growth ratio of 6.76 and a beta of 1.63. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65.

Hedge Funds Weigh In On Kyndryl

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tidal Investments LLC boosted its position in shares of Kyndryl by 240.7% during the first quarter. Tidal Investments LLC now owns 55,778 shares of the company’s stock worth $1,214,000 after purchasing an additional 39,408 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Kyndryl during the second quarter worth $1,418,000. Acadian Asset Management LLC bought a new stake in Kyndryl in the 1st quarter valued at $26,000. International Assets Investment Management LLC lifted its position in Kyndryl by 2,035.3% in the 3rd quarter. International Assets Investment Management LLC now owns 40,100 shares of the company’s stock valued at $921,000 after acquiring an additional 38,222 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Kyndryl by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 25,913,034 shares of the company’s stock valued at $563,868,000 after acquiring an additional 81,826 shares in the last quarter. 71.53% of the stock is owned by institutional investors.

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.