SK Telecom Co., Ltd. (NYSE:SKM) Sees Significant Increase in Short Interest

SK Telecom Co., Ltd. (NYSE:SKMGet Free Report) was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totalling 904,500 shares, an increase of 19.6% from the April 15th total of 756,000 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 258,300 shares, the days-to-cover ratio is currently 3.5 days.

Wall Street Analyst Weigh In

SKM has been the subject of several recent research reports. StockNews.com downgraded SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Nomura Securities raised SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, Nomura raised shares of SK Telecom from a “reduce” rating to a “neutral” rating in a research report on Wednesday, May 8th.

Check Out Our Latest Report on SKM

Hedge Funds Weigh In On SK Telecom

Several large investors have recently modified their holdings of the stock. Promethos Capital LLC purchased a new position in shares of SK Telecom in the 1st quarter worth about $5,875,000. O Shaughnessy Asset Management LLC raised its position in shares of SK Telecom by 36.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 121,244 shares of the Wireless communications provider’s stock worth $2,614,000 after purchasing an additional 32,091 shares during the last quarter. Acadian Asset Management LLC increased its holdings in SK Telecom by 79.6% in the 1st quarter. Acadian Asset Management LLC now owns 281,508 shares of the Wireless communications provider’s stock worth $6,068,000 after buying an additional 124,739 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in SK Telecom by 4.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 181,002 shares of the Wireless communications provider’s stock worth $3,843,000 after buying an additional 8,424 shares in the last quarter. Finally, Advisors Preferred LLC bought a new stake in SK Telecom in the 1st quarter worth about $112,000.

SK Telecom Trading Up 1.1 %

Shares of SK Telecom stock traded up $0.23 on Wednesday, reaching $21.86. 208,488 shares of the company’s stock were exchanged, compared to its average volume of 301,357. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.94 and a quick ratio of 0.92. The firm’s 50-day moving average is $21.20 and its two-hundred day moving average is $21.30. SK Telecom has a 52 week low of $18.52 and a 52 week high of $22.71.

SK Telecom (NYSE:SKMGet Free Report) last announced its quarterly earnings data on Monday, April 29th. The Wireless communications provider reported $0.34 earnings per share (EPS) for the quarter. SK Telecom had a return on equity of 8.62% and a net margin of 6.22%. The firm had revenue of $3.43 billion for the quarter. Analysts forecast that SK Telecom will post 2.12 earnings per share for the current year.

SK Telecom Company Profile

(Get Free Report)

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.

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