SK Telecom Co., Ltd. (NYSE:SKM) Sees Large Increase in Short Interest

SK Telecom Co., Ltd. (NYSE:SKM) was the recipient of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 674,900 shares, an increase of 53.2% from the November 15th total of 440,500 shares. Based on an average daily trading volume, of 232,200 shares, the short-interest ratio is presently 2.9 days. Currently, 0.2% of the company’s shares are sold short.

SK Telecom Price Performance

Shares of NYSE SKM traded up $0.34 during mid-day trading on Friday, reaching $22.19. 186,382 shares of the company’s stock were exchanged, compared to its average volume of 258,197. The company has a current ratio of 0.91, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $22.79 and a 200 day simple moving average of $22.42. SK Telecom has a twelve month low of $19.88 and a twelve month high of $24.58.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of SK Telecom from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 16th.

Hedge Funds Weigh In On SK Telecom

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of SK Telecom by 27.8% during the third quarter. GAMMA Investing LLC now owns 2,246 shares of the Wireless communications provider’s stock worth $53,000 after buying an additional 488 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of SK Telecom by 24.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the Wireless communications provider’s stock valued at $75,000 after acquiring an additional 652 shares during the last quarter. Raymond James & Associates boosted its position in SK Telecom by 0.8% during the second quarter. Raymond James & Associates now owns 90,116 shares of the Wireless communications provider’s stock valued at $1,886,000 after purchasing an additional 729 shares during the last quarter. Assetmark Inc. raised its stake in shares of SK Telecom by 57.6% during the 3rd quarter. Assetmark Inc. now owns 2,949 shares of the Wireless communications provider’s stock worth $70,000 after purchasing an additional 1,078 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its holdings in SK Telecom by 7.2% during the third quarter. First Trust Direct Indexing L.P. now owns 16,497 shares of the Wireless communications provider’s stock worth $392,000 after buying an additional 1,114 shares during the last quarter.

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.