PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Short Interest Down 28.0% in February

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

PT Telekomunikasi Indonesia, Tbk Trading Down 0.1%

NYSE:TLK traded down $0.02 during mid-day trading on Monday, reaching $17.77. The stock had a trading volume of 548,356 shares, compared to its average volume of 676,193. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.17. PT Telekomunikasi Indonesia, Tbk has a 1-year low of $13.15 and a 1-year high of $23.51. The stock’s 50 day simple moving average is $20.90 and its two-hundred day simple moving average is $20.42.

Institutional Investors Weigh In On PT Telekomunikasi Indonesia, Tbk

Several institutional investors and hedge funds have recently made changes to their positions in TLK. Factory Mutual Insurance Co. acquired a new stake in PT Telekomunikasi Indonesia, Tbk during the third quarter worth about $1,638,000. Northcape Capital Pty Ltd lifted its holdings in PT Telekomunikasi Indonesia, Tbk by 33.2% in the third quarter. Northcape Capital Pty Ltd now owns 594,101 shares of the utilities provider’s stock worth $11,181,000 after acquiring an additional 147,928 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in PT Telekomunikasi Indonesia, Tbk by 55.0% in the second quarter. PNC Financial Services Group Inc. now owns 36,811 shares of the utilities provider’s stock valued at $624,000 after acquiring an additional 13,068 shares during the period. Lazard Asset Management LLC grew its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 8.3% during the second quarter. Lazard Asset Management LLC now owns 14,916,907 shares of the utilities provider’s stock valued at $252,690,000 after purchasing an additional 1,147,045 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of PT Telekomunikasi Indonesia, Tbk by 11.3% during the 3rd quarter. American Century Companies Inc. now owns 904,285 shares of the utilities provider’s stock worth $17,019,000 after purchasing an additional 91,448 shares during the period.

Wall Street Analyst Weigh In

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

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.