SK Telecom Co., Ltd. (NYSE:SKM – Get Free Report) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 2,229,077 shares, a decline of 42.6% from the July 15th total of 3,886,580 shares. Based on an average daily trading volume, of 3,066,527 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.6% of the company’s stock are sold short.
Hedge Funds Weigh In On SK Telecom
Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of SK Telecom by 8.2% in the first quarter. Royal Bank of Canada now owns 43,999 shares of the Wireless communications provider’s stock worth $936,000 after acquiring an additional 3,316 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in SK Telecom in the first quarter valued at $85,000. Millennium Management LLC grew its position in SK Telecom by 160.7% during the 1st quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock worth $4,823,000 after purchasing an additional 139,829 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of SK Telecom by 46.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider’s stock valued at $5,531,000 after buying an additional 83,030 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of SK Telecom by 10.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock valued at $134,000 after buying an additional 560 shares during the period.
SK Telecom Stock Performance
SKM stock traded up $0.56 during midday trading on Monday, reaching $39.07. The stock had a trading volume of 1,100,934 shares, compared to its average volume of 2,181,111. The firm has a fifty day simple moving average of $33.99 and a two-hundred day simple moving average of $33.67. SK Telecom has a 52-week low of $19.66 and a 52-week high of $47.18. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 1.18. The stock has a market cap of $14.99 billion, a PE ratio of 31.22 and a beta of 0.64.
Analyst Ratings Changes
A number of research firms have commented on SKM. Weiss Ratings upgraded SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. HSBC upgraded SK Telecom from a “reduce” rating to a “hold” rating in a research note on Thursday, May 7th. Wall Street Zen raised shares of SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Zacks Research upgraded shares of SK Telecom from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. raised shares of SK Telecom from a “neutral” rating to an “overweight” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.
Check Out Our Latest Research Report on SK Telecom
SK Telecom Company Profile
SK Telecom Co, Ltd. (NYSE:SKM) is South Korea’s largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.
Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.
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