Turkcell Iletisim Hizmetleri AS (NYSE:TKC) Short Interest Up 97.5% in July

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 3,024,711 shares, an increase of 97.5% from the July 15th total of 1,531,839 shares. Based on an average trading volume of 3,327,012 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.3% of the company’s shares are short sold.

Turkcell Iletisim Hizmetleri AS Price Performance

Shares of TKC stock opened at $5.43 on Tuesday. The stock has a 50 day moving average price of $5.75 and a 200 day moving average price of $6.13. Turkcell Iletisim Hizmetleri AS has a 52-week low of $5.29 and a 52-week high of $7.18. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.68 and a current ratio of 1.69. The firm has a market capitalization of $4.78 billion, a P/E ratio of 11.08 and a beta of 0.97.

Turkcell Iletisim Hizmetleri AS (NYSE:TKC) last released its earnings results on Thursday, August 13th. The Wireless communications provider reported $0.13 earnings per share for the quarter. The business had revenue of $1.58 billion for the quarter. Turkcell Iletisim Hizmetleri AS had a return on equity of 6.62% and a net margin of 7.13%. As a group, sell-side analysts predict that Turkcell Iletisim Hizmetleri AS will post 0.93 earnings per share for the current year.

Institutional Investors Weigh In On Turkcell Iletisim Hizmetleri AS

Several large investors have recently added to or reduced their stakes in TKC. Renaissance Technologies LLC raised its stake in shares of Turkcell Iletisim Hizmetleri AS by 28.8% during the first quarter. Renaissance Technologies LLC now owns 1,649,707 shares of the Wireless communications provider’s stock valued at $9,948,000 after acquiring an additional 369,107 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Turkcell Iletisim Hizmetleri AS by 1,053.2% in the first quarter. Quantinno Capital Management LP now owns 567,357 shares of the Wireless communications provider’s stock valued at $3,421,000 after purchasing an additional 518,158 shares during the period. UBS Group AG grew its stake in Turkcell Iletisim Hizmetleri AS by 230.5% in the fourth quarter. UBS Group AG now owns 745,889 shares of the Wireless communications provider’s stock worth $4,080,000 after purchasing an additional 520,178 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Turkcell Iletisim Hizmetleri AS in the first quarter worth approximately $3,413,000. Finally, Aaron Wealth Advisors LLC purchased a new position in Turkcell Iletisim Hizmetleri AS during the 1st quarter worth $118,000.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Turkcell Iletisim Hizmetleri AS in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

About Turkcell Iletisim Hizmetleri AS

Turkcell Iletisim Hizmetleri AS, traded on the NYSE under the symbol TKC, is a leading integrated telecommunications and technology company headquartered in Istanbul, Turkey. Since its founding in 1994 as the country’s first GSM operator, Turkcell has expanded its footprint to offer a comprehensive suite of mobile voice, messaging and data services to millions of subscribers. The company has made significant investments in nationwide 4.5G and 5G network infrastructure to deliver high-speed connectivity across both urban centers and rural regions.

In addition to its core mobile offerings, Turkcell provides fixed broadband and fiber-optic services tailored to consumer and enterprise customers.