SK Telecom (NYSE:SKM) Sees Strong Trading Volume – Here’s Why

SK Telecom Co., Ltd. (NYSE:SKM) saw strong trading volume on Monday . 442,642 shares traded hands during trading, an increase of 80% from the previous session’s volume of 246,101 shares.The stock last traded at $21.22 and had previously closed at $21.37.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. StockNews.com downgraded SK Telecom from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. UBS Group assumed coverage on shares of SK Telecom in a research note on Wednesday, February 19th. They set a “buy” rating on the stock. Finally, The Goldman Sachs Group lowered shares of SK Telecom from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, SK Telecom currently has an average rating of “Hold”.

SK Telecom Stock Performance

The stock has a 50-day moving average price of $21.65 and a 200 day moving average price of $22.34. The firm has a market cap of $8.39 billion, a PE ratio of 8.69, a P/E/G ratio of 1.27 and a beta of 0.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.88.

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

Hedge Funds Weigh In On SK Telecom

A number of hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of SK Telecom by 46.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,587 shares of the Wireless communications provider’s stock worth $265,000 after buying an additional 3,980 shares during the period. Vise Technologies Inc. acquired a new position in shares of SK Telecom in the 4th quarter valued at about $485,000. Vident Advisory LLC grew its holdings in shares of 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 purchasing an additional 610 shares during the period. Strategic Global Advisors LLC acquired a new stake in SK Telecom during the 4th quarter worth approximately $345,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in SK Telecom in the fourth quarter valued at 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.