SK Telecom (NYSE:SKM) Shares Gap Up – Should You Buy?

SK Telecom Co., Ltd. (NYSE:SKM)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $24.80, but opened at $26.59. SK Telecom shares last traded at $26.8240, with a volume of 880,369 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SKM. Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Wall Street Zen lowered shares of SK Telecom from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of SK Telecom in a research note on Monday, December 29th. Finally, Daiwa Capital Markets downgraded shares of SK Telecom to a “hold” rating in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

SK Telecom Trading Up 10.4%

The business’s 50-day moving average price is $20.65 and its 200 day moving average price is $21.29. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of 40.83, a PEG ratio of 7.27 and a beta of 0.49. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.03.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share (EPS) for the quarter. SK Telecom had a return on equity of 5.30% and a net margin of 3.60%. On average, equities analysts forecast that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SK Telecom

Several hedge funds and other institutional investors have recently bought and sold shares of SKM. Jones Financial Companies Lllp grew its position in shares of SK Telecom by 94.2% during the third quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock worth $29,000 after buying an additional 648 shares in the last quarter. Allworth Financial LP boosted its stake in SK Telecom by 138.2% during the 3rd quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock valued at $37,000 after acquiring an additional 987 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in SK Telecom by 1,780.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,674 shares of the Wireless communications provider’s stock worth $39,000 after acquiring an additional 1,585 shares in the last quarter. HM Payson & Co. increased its position in shares of SK Telecom by 38.9% in the 3rd quarter. HM Payson & Co. now owns 1,822 shares of the Wireless communications provider’s stock worth $39,000 after purchasing an additional 510 shares during the last quarter. Finally, Wexford Capital LP acquired a new stake in shares of SK Telecom in the 3rd quarter valued at about $39,000.

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.