PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Sees Large Volume Increase – Time to Buy?

Shares of PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) saw unusually-high trading volume on Thursday. Approximately 4,422,591 shares traded hands during trading, an increase of 438% from the previous session’s volume of 821,892 shares. The stock last traded at $12.7750 and had previously closed at $12.74.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TLK shares. Zacks Research upgraded PT Telekomunikasi Indonesia, Tbk from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 8th. Wall Street Zen cut PT Telekomunikasi Indonesia, Tbk from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings downgraded PT Telekomunikasi Indonesia, Tbk from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, PT Telekomunikasi Indonesia, Tbk presently has an average rating of “Reduce”.

PT Telekomunikasi Indonesia, Tbk Stock Down 13.7%

The firm has a 50-day moving average price of $14.04 and a two-hundred day moving average price of $15.32. The company has a market capitalization of $10.92 billion, a P/E ratio of 10.60, a PEG ratio of 0.84 and a beta of 0.40. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.20.

Institutional Trading of PT Telekomunikasi Indonesia, Tbk

A number of hedge funds have recently bought and sold shares of the stock. Assetmark Inc. grew its position in PT Telekomunikasi Indonesia, Tbk by 24.7% in the 1st quarter. Assetmark Inc. now owns 3,716 shares of the utilities provider’s stock worth $69,000 after purchasing an additional 737 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 3.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 25,034 shares of the utilities provider’s stock worth $336,000 after purchasing an additional 776 shares during the period. GAMMA Investing LLC raised its position in shares of PT Telekomunikasi Indonesia, Tbk by 28.2% during the second quarter. GAMMA Investing LLC now owns 4,140 shares of the utilities provider’s stock valued at $56,000 after buying an additional 910 shares during the last quarter. NewEdge Wealth LLC raised its position in shares of PT Telekomunikasi Indonesia, Tbk by 3.9% during the first quarter. NewEdge Wealth LLC now owns 26,786 shares of the utilities provider’s stock valued at $500,000 after buying an additional 1,009 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of PT Telekomunikasi Indonesia, Tbk by 33.5% during the first quarter. EverSource Wealth Advisors LLC now owns 4,650 shares of the utilities provider’s stock valued at $87,000 after buying an additional 1,167 shares during the last quarter.

PT Telekomunikasi Indonesia, Tbk Company Profile

PT Telekomunikasi Indonesia, Tbk, commonly known as Telkom Indonesia, is Indonesia’s state-controlled telecommunications and digital services company. Through its subsidiaries and business units, the company provides fixed-line and mobile communications, broadband internet, network connectivity, information technology services, cloud solutions, and digital services to consumers, businesses, government institutions, and wholesale customers.

Telkom’s consumer operations include broadband services under the IndiHome brand and mobile communications through Telkomsel, its major telecommunications subsidiary.