Short Interest in PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Decreases By 28.0%

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) was the target of a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 2,450,969 shares, a decrease of 28.0% from the February 12th total of 3,404,530 shares. Based on an average trading volume of 712,448 shares, the days-to-cover ratio is presently 3.4 days. Based on an average trading volume of 712,448 shares, the days-to-cover ratio is presently 3.4 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of PT Telekomunikasi Indonesia, Tbk from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce”.

Institutional Investors Weigh In On PT Telekomunikasi Indonesia, Tbk

Several institutional investors have recently made changes to their positions in TLK. Brown Brothers Harriman & Co. grew its position in PT Telekomunikasi Indonesia, Tbk by 828.9% during the third quarter. Brown Brothers Harriman & Co. now owns 1,319 shares of the utilities provider’s stock worth $25,000 after buying an additional 1,177 shares during the period. Raymond James Financial Inc. purchased a new position in PT Telekomunikasi Indonesia, Tbk in the 2nd quarter valued at approximately $25,000. First Horizon Corp acquired a new position in PT Telekomunikasi Indonesia, Tbk during the third quarter worth $26,000. Kestra Advisory Services LLC purchased a new stake in PT Telekomunikasi Indonesia, Tbk during the fourth quarter worth $36,000. Finally, Smartleaf Asset Management LLC grew its holdings in PT Telekomunikasi Indonesia, Tbk by 70.8% in the second quarter. Smartleaf Asset Management LLC now owns 2,222 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 921 shares during the last quarter.

PT Telekomunikasi Indonesia, Tbk Trading Down 1.0%

Shares of NYSE TLK traded down $0.19 during mid-day trading on Friday, hitting $17.78. 1,128,470 shares of the company were exchanged, compared to its average volume of 833,679. The stock has a 50 day simple moving average of $20.90 and a 200-day simple moving average of $20.42. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.77 and a quick ratio of 0.76. PT Telekomunikasi Indonesia, Tbk has a 1-year low of $13.15 and a 1-year high of $23.51.

PT Telekomunikasi Indonesia, Tbk Company Profile

PT Telekomunikasi Indonesia, Tbk, commonly known as Telkom Indonesia, is Indonesia’s largest integrated telecommunications provider. The company’s core operations encompass the provision of fixed-line and mobile voice services, broadband internet, and network infrastructure. It serves a broad customer base that includes residential subscribers, businesses, government agencies and wholesale partners, offering connectivity across urban and rural areas of Indonesia.

Telkom’s product and service portfolio spans consumer broadband and digital entertainment, enterprise ICT solutions, managed network services, data center and cloud platforms, and wholesale international connectivity.