SK Telecom (NYSE:SKM) Rating Lowered to Buy at StockNews.com

StockNews.com lowered shares of SK Telecom (NYSE:SKM) from a strong-buy rating to a buy rating in a report issued on Friday.

Separately, Nomura restated a reduce rating on shares of SK Telecom in a report on Monday, February 5th.

SK Telecom Stock Performance

Shares of SKM stock opened at $20.80 on Friday. The company’s fifty day moving average price is $21.31 and its 200-day moving average price is $21.27. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.92 and a current ratio of 0.94. SK Telecom has a 12 month low of $18.52 and a 12 month high of $22.71.

Institutional Investors Weigh In On SK Telecom

Institutional investors have recently modified their holdings of the stock. CWM LLC increased its position in shares of SK Telecom by 3,900.0% during the fourth quarter. CWM LLC now owns 1,160 shares of the Wireless communications provider’s stock valued at $25,000 after acquiring an additional 1,131 shares in the last quarter. Assetmark Inc. purchased a new stake in SK Telecom during the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its stake in SK Telecom by 1,558.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the Wireless communications provider’s stock valued at $28,000 after purchasing an additional 1,231 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of SK Telecom in the 4th quarter worth $29,000. Finally, Matthews International Capital Management LLC purchased a new position in shares of SK Telecom in the third quarter worth $30,000.

About SK Telecom

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.