Citigroup Inc. upgraded shares of PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) from a neutral rating to a buy rating in a research note released on Tuesday, Marketbeat.com reports.

TLK has been the subject of a number of other reports. UBS AG downgraded shares of PT Telekomunikasi Indonesia, Tbk from a neutral rating to a sell rating in a research note on Friday, September 29th. Macquarie downgraded shares of PT Telekomunikasi Indonesia, Tbk from an outperform rating to a neutral rating in a research note on Monday, October 16th. Finally, BidaskClub cut shares of PT Telekomunikasi Indonesia, Tbk from a buy rating to a hold rating in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold.

Shares of PT Telekomunikasi Indonesia, Tbk (NYSE TLK) traded down $0.18 during midday trading on Tuesday, hitting $30.33. 244,948 shares of the company’s stock were exchanged, compared to its average volume of 435,821. PT Telekomunikasi Indonesia, Tbk has a one year low of $27.17 and a one year high of $36.19. The company has a quick ratio of 1.17, a current ratio of 1.19 and a debt-to-equity ratio of 0.26.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA grew its holdings in PT Telekomunikasi Indonesia, Tbk by 34.6% during the second quarter. BNP Paribas Arbitrage SA now owns 3,639 shares of the utilities provider’s stock valued at $123,000 after purchasing an additional 935 shares during the period. Advisor Group Inc. boosted its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 11.5% in the second quarter. Advisor Group Inc. now owns 4,867 shares of the utilities provider’s stock valued at $154,000 after buying an additional 501 shares during the period. CIBC World Markets Inc. acquired a new position in shares of PT Telekomunikasi Indonesia, Tbk in the second quarter valued at approximately $203,000. SG Americas Securities LLC boosted its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 29.1% in the second quarter. SG Americas Securities LLC now owns 6,333 shares of the utilities provider’s stock valued at $213,000 after buying an additional 1,428 shares during the period. Finally, Ronald Blue & Co. LLC acquired a new position in shares of PT Telekomunikasi Indonesia, Tbk in the second quarter valued at approximately $215,000. Hedge funds and other institutional investors own 5.71% of the company’s stock.

About PT Telekomunikasi Indonesia, Tbk

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk offers telecommunications and network services. The Company’s segments include Corporate, Home, Personal and Others. The Corporate segment provides telecommunications services, including interconnection, leased lines, satellite, contact center, broadband access, information technology services, and data and Internet services to companies and institutions.

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