SK Telecom Co., Ltd. (NYSE:SKM) Sees Significant Increase in Short Interest

SK Telecom Co., Ltd. (NYSE:SKM) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 1,060,000 shares, a growth of 25.0% from the February 13th total of 847,900 shares. Based on an average daily volume of 257,800 shares, the short-interest ratio is currently 4.1 days. Approximately 0.3% of the shares of the stock are short sold.

SK Telecom Price Performance

Shares of SK Telecom stock opened at $21.52 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $8.48 billion, a PE ratio of 8.78, a price-to-earnings-growth ratio of 1.27 and a beta of 0.77. The business’s 50-day moving average price is $21.64 and its 200-day moving average price is $22.42. SK Telecom has a 12 month low of $19.88 and a 12 month high of $24.58.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Wednesday, February 12th. The Wireless communications provider reported $0.63 EPS for the quarter. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. Sell-side analysts forecast that SK Telecom will post 2.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SKM shares. UBS Group started coverage on SK Telecom in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. The Goldman Sachs Group cut SK Telecom from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Finally, StockNews.com cut SK Telecom from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Hedge Funds Weigh In On SK Telecom

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its position in SK Telecom by 46.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,587 shares of the Wireless communications provider’s stock worth $265,000 after acquiring an additional 3,980 shares during the last quarter. Vise Technologies Inc. bought a new position in SK Telecom during the 4th quarter worth approximately $485,000. Vident Advisory LLC grew its position in SK Telecom by 0.8% during the 4th quarter. Vident Advisory LLC now owns 73,815 shares of the Wireless communications provider’s stock worth $1,553,000 after acquiring an additional 610 shares during the last quarter. Strategic Global Advisors LLC bought a new position in SK Telecom during the 4th quarter worth approximately $345,000. Finally, OMERS ADMINISTRATION Corp bought a new position in SK Telecom during the 4th quarter worth approximately $377,000.

About SK Telecom

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.