Short Interest in PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Drops By 28.0%

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On PT Telekomunikasi Indonesia, Tbk

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TLK. Factory Mutual Insurance Co. bought a new position in PT Telekomunikasi Indonesia, Tbk during the 3rd quarter worth approximately $1,638,000. Northcape Capital Pty Ltd lifted its position in PT Telekomunikasi Indonesia, Tbk by 33.2% in the 3rd quarter. Northcape Capital Pty Ltd now owns 594,101 shares of the utilities provider’s stock valued at $11,181,000 after purchasing an additional 147,928 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 55.0% during the second quarter. PNC Financial Services Group Inc. now owns 36,811 shares of the utilities provider’s stock valued at $624,000 after buying an additional 13,068 shares during the last quarter. Lazard Asset Management LLC boosted its position in PT Telekomunikasi Indonesia, Tbk by 8.3% during the 2nd quarter. Lazard Asset Management LLC now owns 14,916,907 shares of the utilities provider’s stock worth $252,690,000 after acquiring an additional 1,147,045 shares during the period. Finally, Blue Trust Inc. lifted its holdings in PT Telekomunikasi Indonesia, Tbk by 338.2% in the third quarter. Blue Trust Inc. now owns 36,168 shares of the utilities provider’s stock worth $681,000 after purchasing an additional 27,914 shares during the period.

PT Telekomunikasi Indonesia, Tbk Price Performance

NYSE:TLK traded down $0.19 during trading hours on Friday, hitting $17.78. The stock had a trading volume of 1,128,470 shares, compared to its average volume of 833,679. The business has a 50 day simple moving average of $20.90 and a two-hundred day simple moving average of $20.42. PT Telekomunikasi Indonesia, Tbk has a 1-year low of $13.15 and a 1-year high of $23.51. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.17.

About PT Telekomunikasi Indonesia, Tbk

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.