SK Telecom (NYSE:SKM) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

SK Telecom Co., Ltd. (NYSE:SKM) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $30.00 and traded as high as $37.24. SK Telecom shares last traded at $36.0720, with a volume of 2,006,182 shares traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. Wall Street Zen raised SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings lowered SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Four investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, SK Telecom currently has a consensus rating of “Reduce”.

SK Telecom Price Performance

The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average is $38.12 and its two-hundred day moving average is $30.12. The company has a market capitalization of $13.87 billion, a P/E ratio of 60.26, a price-to-earnings-growth ratio of 0.22 and a beta of 0.60.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.10. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.98 billion. As a group, analysts predict that SK Telecom Co., Ltd. will post 2.76 earnings per share for the current year.

Hedge Funds Weigh In On SK Telecom

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC increased its position in shares of SK Telecom by 202.4% during the fourth quarter. Millennium Management LLC now owns 606,347 shares of the Wireless communications provider’s stock valued at $12,448,000 after acquiring an additional 405,863 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in SK Telecom by 17.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock worth $50,561,000 after purchasing an additional 374,428 shares during the last quarter. ABN Amro Investment Solutions boosted its position in SK Telecom by 136.8% in the first quarter. ABN Amro Investment Solutions now owns 568,343 shares of the Wireless communications provider’s stock worth $16,647,000 after purchasing an additional 328,300 shares during the last quarter. JPMorgan Chase & Co. grew its stake in SK Telecom by 80,378.7% in the 4th quarter. JPMorgan Chase & Co. now owns 328,353 shares of the Wireless communications provider’s stock valued at $6,741,000 after purchasing an additional 327,945 shares during the period. Finally, Calamos Advisors LLC bought a new position in SK Telecom in the 1st quarter valued at $9,065,000.

SK Telecom Company Profile

SK Telecom Co, Ltd. (NYSE:SKM) is South Korea’s largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.