Short Interest in SK Telecom Co., Ltd. (NYSE:SKM) Drops By 22.9%

SK Telecom Co., Ltd. (NYSE:SKM) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 554,900 shares, a drop of 22.9% from the December 15th total of 719,800 shares. Based on an average daily volume of 239,100 shares, the short-interest ratio is currently 2.3 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in shares of SK Telecom by 27.8% in the third quarter. GAMMA Investing LLC now owns 2,246 shares of the Wireless communications provider’s stock valued at $53,000 after purchasing an additional 488 shares during the last quarter. Assetmark Inc. boosted its stake in SK Telecom by 57.6% in the 3rd quarter. Assetmark Inc. now owns 2,949 shares of the Wireless communications provider’s stock valued at $70,000 after purchasing an additional 1,078 shares during the period. EverSource Wealth Advisors LLC grew its holdings in SK Telecom by 24.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the Wireless communications provider’s stock valued at $75,000 after buying an additional 652 shares in the last quarter. Ariadne Wealth Management LP bought a new position in SK Telecom during the 2nd quarter worth $127,000. Finally, PDS Planning Inc acquired a new stake in shares of SK Telecom during the third quarter worth $200,000.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded SK Telecom from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 16th.

SK Telecom Stock Performance

Shares of SKM traded up $0.01 during trading hours on Wednesday, hitting $21.21. The company had a trading volume of 221,773 shares, compared to its average volume of 227,264. The business has a fifty day moving average of $22.15 and a 200-day moving average of $22.52. The company has a quick ratio of 0.94, a current ratio of 0.91 and a debt-to-equity ratio of 0.48. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 2.11 and a beta of 0.80. SK Telecom has a 12 month low of $19.88 and a 12 month high of $24.58.

SK Telecom Company Profile

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.