PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Shares Gap Up – Here’s Why

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK)’s stock price gapped up prior to trading on Tuesday. The stock had previously closed at $10.45, but opened at $11.30. PT Telekomunikasi Indonesia, Tbk shares last traded at $11.3550, with a volume of 2,005,994 shares traded.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wall Street Zen lowered shares of PT Telekomunikasi Indonesia, Tbk from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research raised PT Telekomunikasi Indonesia, Tbk from a “strong sell” rating to a “hold” rating in a report on Thursday, October 8th. Finally, Weiss Ratings downgraded PT Telekomunikasi Indonesia, Tbk from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce”.

PT Telekomunikasi Indonesia, Tbk Stock Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 0.79 and a quick ratio of 0.78. The firm has a market cap of $11.40 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 0.73 and a beta of 0.40. The company has a fifty day moving average price of $13.95 and a two-hundred day moving average price of $15.25.

Institutional Investors Weigh In On PT Telekomunikasi Indonesia, Tbk

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC lifted its holdings in PT Telekomunikasi Indonesia, Tbk by 23.4% in the 1st quarter. Lazard Asset Management LLC now owns 25,129,891 shares of the utilities provider’s stock valued at $469,426,000 after acquiring an additional 4,770,126 shares during the last quarter. Northcape Capital Pty Ltd boosted its position in shares of PT Telekomunikasi Indonesia, Tbk by 4.5% during the 2nd quarter. Northcape Capital Pty Ltd now owns 1,125,872 shares of the utilities provider’s stock valued at $15,120,000 after purchasing an additional 48,584 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of PT Telekomunikasi Indonesia, Tbk by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 693,271 shares of the utilities provider’s stock valued at $12,932,000 after purchasing an additional 2,524 shares in the last quarter. Bank of America Corp DE boosted its position in shares of PT Telekomunikasi Indonesia, Tbk by 11.7% during the 1st quarter. Bank of America Corp DE now owns 565,985 shares of the utilities provider’s stock valued at $10,573,000 after purchasing an additional 59,123 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of PT Telekomunikasi Indonesia, Tbk by 7.4% in the 1st quarter. Royal Bank of Canada now owns 381,276 shares of the utilities provider’s stock worth $7,122,000 after purchasing an additional 26,252 shares during the last quarter.

PT Telekomunikasi Indonesia, Tbk Company Profile

PT Telekomunikasi Indonesia, Tbk, commonly known as Telkom Indonesia, is Indonesia’s state-controlled telecommunications and digital services company. Through its subsidiaries and business units, the company provides fixed-line voice services, broadband internet, mobile communications, network connectivity, and information and communications technology solutions.

Telkom’s consumer offerings include fixed broadband and digital services marketed under the IndiHome brand, while its mobile business is conducted primarily through Telkomsel, one of Indonesia’s major wireless operators.