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

SK Telecom Co., Ltd. (NYSE:SKM) saw unusually-strong trading volume on Tuesday . Approximately 1,991,562 shares were traded during trading, an increase of 9% from the previous session’s volume of 1,825,618 shares.The stock last traded at $38.59 and had previously closed at $37.76.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SKM shares. Zacks Research downgraded shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Weiss Ratings raised shares of SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 12th. HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. Wall Street Zen raised shares of SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Bank of America downgraded shares of SK Telecom from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 18th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

SK Telecom Price Performance

The company’s 50-day moving average price is $34.63 and its two-hundred day moving average price is $27.70. The company has a market cap of $14.71 billion, a P/E ratio of 63.90, a P/E/G ratio of 0.23 and a beta of 0.61. The company has a current ratio of 1.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. SK Telecom had a net margin of 2.03% and a return on equity of 2.84%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.98 billion. As a group, sell-side analysts expect that SK Telecom Co., Ltd. will post 2.76 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SKM. Kestra Advisory Services LLC acquired a new stake in SK Telecom during the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp grew its position in SK Telecom by 94.2% in the third quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock worth $29,000 after acquiring an additional 648 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in SK Telecom in the fourth quarter worth approximately $30,000. Allworth Financial LP increased its holdings in shares of SK Telecom by 138.2% during the 3rd quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock valued at $37,000 after acquiring an additional 987 shares during the last quarter. Finally, Wexford Capital LP acquired a new stake in SK Telecom in the 3rd quarter worth approximately $39,000.

About SK Telecom

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.