SK Telecom Co., Ltd. (NYSE:SKM) Short Interest Down 15.4% in June

SK Telecom Co., Ltd. (NYSE:SKM) saw a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 1,100,000 shares, a decline of 15.4% from the May 31st total of 1,300,000 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average trading volume of 269,800 shares, the days-to-cover ratio is presently 4.1 days.

SK Telecom Trading Down 0.1 %

Shares of NYSE SKM traded down $0.02 during midday trading on Friday, reaching $20.93. 301,737 shares of the company traded hands, compared to its average volume of 261,118. SK Telecom has a 52 week low of $18.52 and a 52 week high of $22.71. The stock has a 50-day moving average price of $20.96 and a 200 day moving average price of $21.18. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.98 and a quick ratio of 0.95.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Wednesday, May 8th. The Wireless communications provider reported $0.68 EPS for the quarter. SK Telecom had a net margin of 6.53% and a return on equity of 8.97%. The firm had revenue of $3.36 billion for the quarter. As a group, sell-side analysts anticipate that SK Telecom will post 2.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SKM has been the topic of a number of recent analyst reports. StockNews.com cut shares of SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 25th. Nomura Securities upgraded shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, Nomura upgraded shares of SK Telecom from a “reduce” rating to a “neutral” rating in a research note on Wednesday, May 8th.

Institutional Investors Weigh In On SK Telecom

Several hedge funds and other institutional investors have recently bought and sold shares of SKM. Ramirez Asset Management Inc. bought a new stake in SK Telecom in the third quarter worth about $8,165,000. Promethos Capital LLC bought a new stake in SK Telecom in the first quarter worth about $5,875,000. Teachers Retirement System of The State of Kentucky bought a new stake in SK Telecom in the first quarter worth about $3,364,000. Meritage Portfolio Management bought a new stake in SK Telecom in the first quarter worth about $2,691,000. Finally, Acadian Asset Management LLC raised its position in SK Telecom by 79.6% in the first quarter. Acadian Asset Management LLC now owns 281,508 shares of the Wireless communications provider’s stock worth $6,068,000 after acquiring an additional 124,739 shares in 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.