Short Interest in SK Telecom Co., Ltd. (NYSE:SKM) Declines By 27.8%

SK Telecom Co., Ltd. (NYSE:SKM - Get Free Report) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 491,800 shares, a decline of 27.8% from the September 15th total of 681,000 shares. Based on an average trading volume of 242,900 shares, the days-to-cover ratio is presently 2.0 days. Currently, 0.1% of the company's stock are sold short.

Institutional Trading of SK Telecom

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of SK Telecom by 27.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,246 shares of the Wireless communications provider's stock worth $53,000 after purchasing an additional 488 shares during the period. EverSource Wealth Advisors LLC lifted its stake in SK Telecom by 104.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the Wireless communications provider's stock valued at $55,000 after buying an additional 1,372 shares during the last quarter. Advisors Preferred LLC bought a new stake in SK Telecom in the first quarter valued at $112,000. Ariadne Wealth Management LP acquired a new position in shares of SK Telecom during the second quarter valued at $127,000. Finally, Aprio Wealth Management LLC acquired a new stake in shares of SK Telecom in the 3rd quarter worth about $231,000.

Wall Street Analyst Weigh In

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

SK Telecom Stock Up 0.5 %

Shares of SKM stock traded up $0.11 during trading hours on Friday, hitting $22.94. 220,712 shares of the company were exchanged, compared to its average volume of 275,222. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of 18.06, a P/E/G ratio of 2.09 and a beta of 0.77. SK Telecom has a one year low of $19.88 and a one year high of $24.58. The business's 50-day simple moving average is $23.29 and its two-hundred day simple moving average is $21.84. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.95 and a current ratio of 0.98.

SK Telecom (NYSE:SKM - Get Free Report) last released its earnings results on Tuesday, August 6th. The Wireless communications provider reported $0.63 EPS for the quarter. SK Telecom had a return on equity of 8.94% and a net margin of 6.52%. The company had revenue of $3.22 billion for the quarter. Sell-side analysts predict that SK Telecom will post 2.29 EPS for the current fiscal year.

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.