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

SK Telecom Co., Ltd. (NYSE:SKM) was the target of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 3,618,129 shares, an increase of 63.5% from the February 26th total of 2,212,539 shares. Based on an average daily volume of 2,090,700 shares, the days-to-cover ratio is presently 1.7 days. Currently, 1.0% of the company’s stock are short sold.

Wall Street Analyst Weigh In

SKM has been the topic of several research reports. Bank of America downgraded shares of SK Telecom from a “neutral” rating to an “underperform” rating in a report on Wednesday, February 18th. Wall Street Zen raised shares of SK Telecom from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Zacks Research upgraded shares of SK Telecom from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. Weiss Ratings raised shares of SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 12th. Finally, Daiwa Securities Group downgraded SK Telecom to a “hold” rating in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold”.

SK Telecom Stock Up 2.6%

SKM traded up $0.77 during mid-day trading on Friday, reaching $29.97. 1,493,156 shares of the stock were exchanged, compared to its average volume of 1,688,697. SK Telecom has a 1 year low of $19.66 and a 1 year high of $33.71. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.03. The stock has a market capitalization of $11.50 billion, a PE ratio of 44.07, a price-to-earnings-growth ratio of 4.19 and a beta of 0.49. The company has a 50 day moving average price of $29.00 and a two-hundred day moving average price of $23.63.

SK Telecom (NYSE:SKM) last announced its earnings results on Thursday, February 5th. The Wireless communications provider reported $10.67 EPS for the quarter, beating the consensus estimate of $0.10 by $10.57. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.02 billion. SK Telecom had a net margin of 2.28% and a return on equity of 3.21%. As a group, research analysts anticipate that SK Telecom will post 2.27 EPS for the current year.

Institutional Trading of SK Telecom

Institutional investors and hedge funds have recently modified their holdings of the business. West Family Investments Inc. bought a new position in SK Telecom in the 2nd quarter valued at $416,000. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in shares of SK Telecom during the 3rd quarter worth $1,415,000. North of South Capital LLP purchased a new position in shares of SK Telecom in the 3rd quarter worth about $1,133,000. Quadrant Capital Group LLC grew its position in SK Telecom by 1,406.1% during the second quarter. Quadrant Capital Group LLC now owns 108,303 shares of the Wireless communications provider’s stock valued at $2,529,000 after buying an additional 101,112 shares during the period. Finally, Caprock Group LLC bought a new position in SK Telecom during the third quarter valued at about $1,804,000.

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.