Short Interest in SK Telecom Co., Ltd. (NYSE:SKM) Declines By 22.9%

SK Telecom Co., Ltd. (NYSE:SKM) was the target of a large drop in short interest in December. As of December 31st, there was short interest totalling 554,900 shares, a drop of 22.9% from the December 15th total of 719,800 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 239,100 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Investors Weigh In On SK Telecom

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in SK Telecom by 27.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,246 shares of the Wireless communications provider’s stock valued at $53,000 after acquiring an additional 488 shares during the last quarter. Assetmark Inc. grew its stake in SK Telecom by 57.6% in the 3rd quarter. Assetmark Inc. now owns 2,949 shares of the Wireless communications provider’s stock valued at $70,000 after acquiring an additional 1,078 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in SK Telecom by 24.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the Wireless communications provider’s stock valued at $75,000 after acquiring an additional 652 shares during the last quarter. Ariadne Wealth Management LP acquired a new stake in SK Telecom in the 2nd quarter valued at about $127,000. Finally, D Orazio & Associates Inc. acquired a new stake in SK Telecom in the 3rd quarter valued at about $200,000.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of SK Telecom from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 16th.

SK Telecom Stock Performance

Shares of SKM traded up $0.25 during trading hours on Friday, reaching $21.41. The company had a trading volume of 150,925 shares, compared to its average volume of 216,584. SK Telecom has a 12-month low of $19.88 and a 12-month high of $24.58. The firm has a 50 day simple moving average of $22.08 and a 200-day simple moving average of $22.50. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.91.

SK Telecom Company Profile

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.