PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Sees Large Volume Increase - Time to Buy?

Key Points

• Trading volume surged 438% to 4.42 million shares, while PT Telekomunikasi Indonesia’s stock edged up to $12.775 from a $12.74 close.
• Analyst sentiment remains cautious: ratings include Hold and Sell, giving the stock an overall MarketBeat rating of “Reduce”, despite one recent upgrade to Buy.
• The stock trades below its 50-day and 200-day moving averages, at $14.16 and $15.39 respectively; its market capitalization is approximately $12.68 billion.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Get Free Report) saw unusually-high trading volume on Thursday. 4,422,591 shares changed hands during mid-day trading, an increase of 438% from the previous session's volume of 821,892 shares. The stock last traded at $12.7750 and had previously closed at $12.74.

Analysts Set New Price Targets

TLK has been the topic of a number of research reports. Zacks Research upgraded PT Telekomunikasi Indonesia, Tbk from a "strong sell" rating to a "hold" rating in a research note on Thursday, October 8th. Wall Street Zen raised PT Telekomunikasi Indonesia, Tbk from a "hold" rating to a "buy" rating in a research note on Saturday, September 5th. Finally, Weiss Ratings downgraded PT Telekomunikasi Indonesia, Tbk from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Reduce".

PT Telekomunikasi Indonesia, Tbk Stock Performance

The firm's 50 day moving average is $14.16 and its two-hundred day moving average is $15.39. The stock has a market capitalization of $12.68 billion, a PE ratio of 12.31, a P/E/G ratio of 0.83 and a beta of 0.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.78 and a current ratio of 0.79.

Institutional Trading of PT Telekomunikasi Indonesia, Tbk

Several hedge funds have recently modified their holdings of the stock. Assetmark Inc. raised its holdings in PT Telekomunikasi Indonesia, Tbk by 24.7% in the first quarter. Assetmark Inc. now owns 3,716 shares of the utilities provider's stock valued at $69,000 after acquiring an additional 737 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in PT Telekomunikasi Indonesia, Tbk by 3.2% in the second quarter. Sequoia Financial Advisors LLC now owns 25,034 shares of the utilities provider's stock worth $336,000 after acquiring an additional 776 shares during the last quarter. GAMMA Investing LLC grew its holdings in PT Telekomunikasi Indonesia, Tbk by 28.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,140 shares of the utilities provider's stock worth $56,000 after acquiring an additional 910 shares in the last quarter. NewEdge Wealth LLC grew its holdings in PT Telekomunikasi Indonesia, Tbk by 3.9% during the 1st quarter. NewEdge Wealth LLC now owns 26,786 shares of the utilities provider's stock worth $500,000 after acquiring an additional 1,009 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in PT Telekomunikasi Indonesia, Tbk by 33.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,650 shares of the utilities provider's stock worth $87,000 after acquiring an additional 1,167 shares in the last quarter.

About PT Telekomunikasi Indonesia, Tbk

PT Telekomunikasi Indonesia, Tbk, commonly known as Telkom Indonesia, is Indonesia's state-controlled telecommunications and digital services company. Through its subsidiaries and business units, the company provides fixed-line and mobile communications, broadband internet, network connectivity, information technology services, cloud solutions, and digital services to consumers, businesses, government institutions, and wholesale customers.

Telkom's consumer operations include broadband services under the IndiHome brand and mobile communications through Telkomsel, its major telecommunications subsidiary.

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