SK Telecom (NYSE:SKM) Stock Rating Lowered by StockNews.com

SK Telecom (NYSE:SKMGet Free Report) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

Separately, Nomura reiterated a “reduce” rating on shares of SK Telecom in a research report on Monday, February 5th.

Check Out Our Latest Report on SKM

SK Telecom Stock Up 0.7 %

SKM stock traded up $0.15 during mid-day trading on Friday, reaching $20.80. The company’s stock had a trading volume of 128,348 shares, compared to its average volume of 303,238. SK Telecom has a 12 month low of $18.52 and a 12 month high of $22.71. The business’s 50 day moving average price is $21.33 and its 200 day moving average price is $21.25. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.61.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of SK Telecom during the first quarter valued at approximately $216,000. Allspring Global Investments Holdings LLC increased its stake in SK Telecom by 3.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,159,884 shares of the Wireless communications provider’s stock valued at $25,007,000 after purchasing an additional 37,186 shares in the last quarter. Meritage Portfolio Management acquired a new position in SK Telecom during the first quarter worth $2,691,000. Simplicity Wealth LLC bought a new position in shares of SK Telecom in the first quarter valued at $427,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of SK Telecom by 31.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 39,199 shares of the Wireless communications provider’s stock valued at $845,000 after buying an additional 9,445 shares during the last quarter.

About SK Telecom

(Get Free Report)

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.

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