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

SK Telecom Co., Ltd. (NYSE:SKM)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $23.08 and traded as high as $28.68. SK Telecom shares last traded at $28.0360, with a volume of 705,864 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SKM shares. Daiwa Securities Group downgraded SK Telecom to a “hold” rating in a research report on Wednesday, January 14th. Bank of America cut SK Telecom from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 18th. Zacks Research raised SK Telecom from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. Weiss Ratings upgraded SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Finally, Citigroup lowered SK Telecom from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

SK Telecom Price Performance

The company has a current ratio of 1.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $10.76 billion, a PE ratio of 41.23, a PEG ratio of 3.93 and a beta of 0.49. The business has a fifty day moving average price of $27.23 and a 200-day moving average price of $23.08.

SK Telecom (NYSE:SKM) last released its earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share for the quarter. The firm had revenue of $2.83 billion during the quarter. SK Telecom had a return on equity of 3.21% and a net margin of 2.28%. Research analysts expect that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Institutional Investors Weigh In On SK Telecom

Hedge funds have recently made changes to their positions in the business. Corient Private Wealth LLC grew its holdings in shares of SK Telecom by 21.5% during the 4th quarter. Corient Private Wealth LLC now owns 51,730 shares of the Wireless communications provider’s stock valued at $1,062,000 after purchasing an additional 9,147 shares during the last quarter. Groupama Asset Managment lifted its stake in SK Telecom by 1.7% in the fourth quarter. Groupama Asset Managment now owns 25,371 shares of the Wireless communications provider’s stock worth $521,000 after purchasing an additional 418 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in SK Telecom in the fourth quarter worth $1,509,000. Millennium Management LLC boosted its position in 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 buying an additional 405,863 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in shares of SK Telecom during the fourth quarter valued at about $293,000.

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.