SK Telecom Co., Ltd. (NYSE:SKM) Short Interest Down 42.6% in July

SK Telecom Co., Ltd. (NYSE:SKM) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 2,229,077 shares, a decrease of 42.6% from the July 15th total of 3,886,580 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,066,527 shares, the days-to-cover ratio is currently 0.7 days.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Zacks Research raised SK Telecom from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Wall Street Zen raised SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Weiss Ratings upgraded shares of SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. raised shares of SK Telecom from a “neutral” rating to an “overweight” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, SK Telecom has an average rating of “Hold”.

Institutional Trading of SK Telecom

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Advisory Services LLC purchased a new position in shares of SK Telecom during the 4th quarter worth approximately $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in SK Telecom in the fourth quarter worth $30,000. Wexford Capital LP bought a new position in SK Telecom in the third quarter worth $39,000. Matthews International Capital Management LLC lifted its position in SK Telecom by 50.4% during the fourth quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock valued at $51,000 after buying an additional 835 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in SK Telecom during the first quarter valued at $85,000.

SK Telecom Trading Down 3.7%

Shares of SKM traded down $1.49 during mid-day trading on Tuesday, hitting $38.47. 1,826,851 shares of the company’s stock traded hands, compared to its average volume of 2,193,216. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $14.76 billion, a P/E ratio of 30.77 and a beta of 0.64. The business’s 50-day moving average price is $33.94 and its 200-day moving average price is $33.84. SK Telecom has a 1 year low of $19.66 and a 1 year high of $47.18.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.22. SK Telecom had a net margin of 4.23% and a return on equity of 5.59%. The business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.96 billion. As a group, sell-side analysts forecast that SK Telecom will post 2.42 EPS for the current fiscal year.

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.