SK Telecom (NYSE:SKM) Sees Unusually-High Trading Volume – Should You Buy?

Shares of SK Telecom Co., Ltd. (NYSE:SKM) saw an uptick in trading volume on Thursday . Approximately 1,334,979 shares were traded during mid-day trading, a decline of 37% from the previous session’s volume of 2,111,023 shares.The stock last traded at $32.9630 and had previously closed at $32.32.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Weiss Ratings downgraded SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Wall Street Zen upgraded SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Zacks Research raised SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, HSBC upgraded SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, SK Telecom has an average rating of “Reduce”.

SK Telecom Price Performance

The business’s 50-day simple moving average is $36.73 and its two-hundred day simple moving average is $31.45. The stock has a market cap of $12.74 billion, a price-to-earnings ratio of 55.33, a price-to-earnings-growth ratio of 0.20 and a beta of 0.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 1.15.

SK Telecom (NYSE:SKM) last announced its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.10. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.98 billion. Research analysts expect that SK Telecom Co., Ltd. will post 2.76 earnings per share for the current year.

Hedge Funds Weigh In On SK Telecom

Several large investors have recently bought and sold shares of the company. Millennium Management LLC grew its holdings in shares of SK Telecom by 202.4% during the fourth quarter. Millennium Management LLC now owns 606,347 shares of the Wireless communications provider’s stock worth $12,448,000 after purchasing an additional 405,863 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in SK Telecom by 17.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock worth $50,561,000 after buying an additional 374,428 shares during the period. ABN Amro Investment Solutions boosted its position in SK Telecom by 136.8% during the 1st quarter. ABN Amro Investment Solutions now owns 568,343 shares of the Wireless communications provider’s stock worth $16,647,000 after buying an additional 328,300 shares during the period. JPMorgan Chase & Co. grew its holdings in SK Telecom by 80,378.7% during the 4th quarter. JPMorgan Chase & Co. now owns 328,353 shares of the Wireless communications provider’s stock worth $6,741,000 after acquiring an additional 327,945 shares during the last quarter. Finally, Calamos Advisors LLC bought a new stake in SK Telecom during the 1st quarter worth approximately $9,065,000.

About SK Telecom

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.