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

SK Telecom Co., Ltd. (NYSE:SKM) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 681,000 shares, a decline of 32.6% from the August 31st total of 1,010,000 shares. Based on an average daily volume of 249,600 shares, the short-interest ratio is presently 2.7 days. Approximately 0.2% of the company’s shares are sold short.

SK Telecom Trading Down 0.5 %

NYSE:SKM traded down $0.13 on Friday, reaching $24.34. The company’s stock had a trading volume of 254,721 shares, compared to its average volume of 278,727. SK Telecom has a 1-year low of $19.42 and a 1-year high of $24.58. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average price is $23.06 and its two-hundred day moving average price is $21.77.

SK Telecom (NYSE:SKM) last posted its earnings results on Tuesday, August 6th. The Wireless communications provider reported $0.63 earnings per share (EPS) for the quarter. SK Telecom had a return on equity of 8.94% and a net margin of 6.52%. The firm had revenue of $3.22 billion during the quarter. As a group, equities analysts forecast that SK Telecom will post 2.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in shares of SK Telecom during the second quarter worth about $469,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of SK Telecom by 5.9% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 165,220 shares of the Wireless communications provider’s stock worth $3,458,000 after buying an additional 9,200 shares during the period. Ariadne Wealth Management LP acquired a new position in shares of SK Telecom during the second quarter worth about $127,000. Millennium Management LLC boosted its position in shares of SK Telecom by 37.5% during the second quarter. Millennium Management LLC now owns 158,866 shares of the Wireless communications provider’s stock worth $3,325,000 after buying an additional 43,327 shares during the period. Finally, AQR Capital Management LLC acquired a new position in shares of SK Telecom during the second quarter worth about $1,570,000.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised SK Telecom from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th.

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.