SK Telecom Co., Ltd. (NYSE:SKM) Short Interest Update

SK Telecom Co., Ltd. (NYSE:SKM) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 3,283,903 shares, an increase of 83.1% from the August 31st total of 1,793,955 shares. Based on an average daily volume of 1,577,633 shares, the short-interest ratio is presently 2.1 days. Approximately 0.9% of the company’s shares are sold short.

SK Telecom Stock Up 1.0%

Shares of NYSE:SKM traded up $0.36 during midday trading on Tuesday, reaching $35.86. The company’s stock had a trading volume of 642,374 shares, compared to its average volume of 2,071,164. The firm has a 50 day moving average of $36.24 and a 200-day moving average of $35.34. The firm has a market capitalization of $13.76 billion, a P/E ratio of 28.69 and a beta of 0.67. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. SK Telecom has a 12-month low of $19.66 and a 12-month high of $47.18.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.22. The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.96 billion. SK Telecom had a net margin of 4.23% and a return on equity of 5.30%. On average, research analysts anticipate that SK Telecom will post 2.21 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC bought a new position in SK Telecom in the 2nd quarter valued at approximately $42,869,000. BlueCrest Capital Management Ltd bought a new position in shares of SK Telecom during the second quarter valued at $24,120,000. Great Lakes Advisors LLC boosted its position in shares of SK Telecom by 1.1% during the fourth quarter. Great Lakes Advisors LLC now owns 1,117,361 shares of the Wireless communications provider’s stock valued at $22,939,000 after buying an additional 12,672 shares during the last quarter. ABN Amro Investment Solutions increased its holdings in SK Telecom by 136.8% in the 1st quarter. ABN Amro Investment Solutions now owns 568,343 shares of the Wireless communications provider’s stock worth $16,647,000 after buying an additional 328,300 shares in the last quarter. Finally, Nykredit A S purchased a new position in SK Telecom in the 2nd quarter worth about $14,475,000.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SKM shares. Wall Street Zen upgraded SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Weiss Ratings raised SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. upgraded shares of SK Telecom from a “neutral” rating to an “overweight” rating in a report on Thursday, July 16th. Finally, Zacks Research lowered shares of SK Telecom from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, August 27th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

SK Telecom Company Profile

SK Telecom Co, Ltd. is a South Korean telecommunications company that provides mobile communications, broadband internet, and media services. Its offerings include wireless voice and data plans, 5G connectivity, fixed-line broadband, internet protocol television, and related digital services for consumers and businesses.

The company also develops enterprise technology solutions in areas such as artificial intelligence, cloud computing, data centers, cybersecurity, and connected devices.