Short Interest in SK Telecom Co., Ltd. (NYSE:SKM) Declines By 16.4%

SK Telecom Co., Ltd. (NYSE:SKM) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 440,500 shares, a drop of 16.4% from the October 31st total of 527,100 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 224,800 shares, the days-to-cover ratio is currently 2.0 days.

SK Telecom Trading Down 0.2 %

SKM stock opened at $24.22 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.60. SK Telecom has a 52-week low of $19.88 and a 52-week high of $24.58. The company’s 50-day simple moving average is $23.03 and its 200-day simple moving average is $22.34. The firm has a market cap of $10.69 billion, a P/E ratio of 11.21, a PEG ratio of 2.31 and a beta of 0.77.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of SK Telecom from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 16th.

Institutional Trading of SK Telecom

Several institutional investors have recently bought and sold shares of SKM. Sanctuary Advisors LLC boosted its holdings in SK Telecom by 10.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 25,043 shares of the Wireless communications provider’s stock worth $570,000 after buying an additional 2,295 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of SK Telecom in the third quarter worth about $343,000. Orion Portfolio Solutions LLC boosted its position in SK Telecom by 18.2% during the third quarter. Orion Portfolio Solutions LLC now owns 80,974 shares of the Wireless communications provider’s stock worth $1,925,000 after acquiring an additional 12,455 shares during the last quarter. State Street Corp grew its stake in SK Telecom by 1.4% during the 3rd quarter. State Street Corp now owns 209,485 shares of the Wireless communications provider’s stock valued at $4,979,000 after acquiring an additional 2,883 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in SK Telecom by 92.2% in the 3rd quarter. Quantinno Capital Management LP now owns 51,828 shares of the Wireless communications provider’s stock valued at $1,232,000 after acquiring an additional 24,857 shares during the last quarter.

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.