SK Telecom (NYSE:SKM) Lifted to Strong-Buy at StockNews.com

SK Telecom (NYSE:SKM) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday.

Separately, Nomura reaffirmed a “reduce” rating on shares of SK Telecom in a research note on Monday, February 5th.

SK Telecom Stock Performance

Shares of NYSE:SKM traded down $0.04 during midday trading on Wednesday, hitting $19.93. 267,780 shares of the stock were exchanged, compared to its average volume of 319,650. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.61. SK Telecom has a twelve month low of $18.52 and a twelve month high of $22.71. The company has a 50 day moving average price of $21.59 and a 200-day moving average price of $21.25.

Institutional Trading of SK Telecom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. increased its position in SK Telecom by 31.7% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 39,199 shares of the Wireless communications provider’s stock worth $845,000 after purchasing an additional 9,445 shares in the last quarter. DGS Capital Management LLC increased its position in SK Telecom by 63.6% during the 1st quarter. DGS Capital Management LLC now owns 155,930 shares of the Wireless communications provider’s stock worth $3,362,000 after purchasing an additional 60,591 shares in the last quarter. Green Alpha Advisors LLC grew its holdings in SK Telecom by 19.8% in the 1st quarter. Green Alpha Advisors LLC now owns 58,544 shares of the Wireless communications provider’s stock valued at $1,262,000 after buying an additional 9,673 shares during the period. PNC Financial Services Group Inc. grew its holdings in SK Telecom by 474.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,106 shares of the Wireless communications provider’s stock valued at $238,000 after buying an additional 9,171 shares during the period. Finally, Voloridge Investment Management LLC purchased a new stake in SK Telecom in the 4th quarter valued at about $1,096,000.

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.