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 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. Approximately 0.9% of the shares of the company are sold short. Based on an average daily volume of 1,577,633 shares, the days-to-cover ratio is presently 2.1 days.

Institutional Trading of SK Telecom

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Calamos Advisors LLC bought a new stake in shares of SK Telecom during the first quarter valued at approximately $9,065,000. ABN Amro Investment Solutions boosted its position in shares of SK Telecom by 136.8% during the first quarter. ABN Amro Investment Solutions now owns 568,343 shares of the Wireless communications provider’s stock worth $16,647,000 after acquiring an additional 328,300 shares during the last quarter. Calamos Wealth Management LLC purchased a new position in SK Telecom during the first quarter valued at $3,511,000. WINTON GROUP Ltd purchased a new stake in SK Telecom in the 2nd quarter worth $965,000. Finally, Euro Pacific Asset Management LLC boosted its holdings in shares of SK Telecom by 80.6% during the 1st quarter. Euro Pacific Asset Management LLC now owns 223,557 shares of the Wireless communications provider’s stock valued at $6,513,000 after purchasing an additional 99,741 shares during the last quarter.

SK Telecom Price Performance

Shares of SKM traded up $0.36 during trading hours on Tuesday, reaching $35.86. 642,374 shares of the stock traded hands, compared to its average volume of 2,071,164. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.49. SK Telecom has a 52-week low of $19.66 and a 52-week high of $47.18. The company’s 50-day moving average price is $36.24 and its two-hundred day moving average price is $35.34. The company has a market cap of $13.76 billion, a P/E ratio of 28.69 and a beta of 0.67.

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, topping analysts’ consensus estimates of $0.59 by $0.22. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.96 billion. SK Telecom had a return on equity of 5.30% and a net margin of 4.23%. On average, analysts anticipate that SK Telecom will post 2.21 earnings per share for the current year.

Analysts Set New Price Targets

SKM has been the subject of several recent research reports. Zacks Research lowered shares of SK Telecom from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, August 27th. Wall Street Zen upgraded SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Weiss Ratings upgraded SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Finally, JPMorgan Chase & Co. upgraded SK Telecom from a “neutral” rating to an “overweight” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

About SK Telecom

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.