SK Telecom (NYSE:SKM) Upgraded to “Strong-Buy” at StockNews.com

SK Telecom (NYSE:SKM) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday.

A number of other equities research analysts have also issued reports on the company. Nomura Securities raised SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Nomura raised SK Telecom from a “reduce” rating to a “neutral” rating in a research report on Wednesday, May 8th.

SK Telecom Stock Up 5.0 %

SK Telecom stock traded up $1.06 during mid-day trading on Wednesday, hitting $22.28. 298,033 shares of the company’s stock traded hands, compared to its average volume of 290,419. The firm has a 50 day moving average price of $21.19 and a 200 day moving average price of $21.25. 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 one year low of $19.34 and a one year high of $22.71.

SK Telecom (NYSE:SKM) last announced its earnings results on Wednesday, May 8th. The Wireless communications provider reported $0.68 earnings per share for the quarter. The firm had revenue of $3.36 billion for the quarter. SK Telecom had a return on equity of 8.97% and a net margin of 6.53%. Equities analysts predict that SK Telecom will post 2.15 earnings per share for the current year.

Institutional Trading of SK Telecom

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised its holdings in SK Telecom by 3,900.0% in the 4th quarter. CWM LLC now owns 1,160 shares of the Wireless communications provider’s stock valued at $25,000 after acquiring an additional 1,131 shares in the last quarter. Assetmark Inc. acquired a new position in SK Telecom in the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC raised its holdings in SK Telecom by 1,558.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the Wireless communications provider’s stock valued at $28,000 after acquiring an additional 1,231 shares in the last quarter. GAMMA Investing LLC acquired a new position in SK Telecom in the 4th quarter valued at approximately $29,000. Finally, Tower Research Capital LLC TRC raised its holdings in SK Telecom by 116.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,342 shares of the Wireless communications provider’s stock valued at $72,000 after acquiring an additional 1,798 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.