PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Shares Gap Down - What's Next?

Key Points

• TLK shares fell sharply: PT Telekomunikasi Indonesia opened at $10.20 versus a prior close of $11.03, and last traded near $10.39 on volume of roughly 2.3 million shares.
• Analyst sentiment remains cautious: Recent ratings changes included downgrades from Weiss Ratings and Wall Street Zen, while Zacks Research upgraded the stock to Hold. The overall consensus rating is “Reduce.”
• Institutional ownership increased: Several investors expanded their positions, including Lazard Asset Management, which added about 4.8 million shares, and Sei Investments, whose stake rose more than 1,000%.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Get Free Report)'s stock price gapped down prior to trading on Monday. The stock had previously closed at $11.03, but opened at $10.20. PT Telekomunikasi Indonesia, Tbk shares last traded at $10.3850, with a volume of 2,296,955 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TLK. Weiss Ratings downgraded shares of PT Telekomunikasi Indonesia, Tbk from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, July 31st. Wall Street Zen cut shares of PT Telekomunikasi Indonesia, Tbk from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Zacks Research raised shares of PT Telekomunikasi Indonesia, Tbk from a "strong sell" rating to a "hold" rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Reduce".

PT Telekomunikasi Indonesia, Tbk Price Performance

The stock has a market cap of $10.23 billion, a P/E ratio of 9.95, a PEG ratio of 0.73 and a beta of 0.40. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.79 and a quick ratio of 0.78. The business's fifty day moving average price is $14.04 and its 200 day moving average price is $15.30.

Hedge Funds Weigh In On PT Telekomunikasi Indonesia, Tbk

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raiffeisen Bank International AG bought a new stake in PT Telekomunikasi Indonesia, Tbk during the 2nd quarter worth $4,784,000. Engineers Gate Manager LP raised its position in PT Telekomunikasi Indonesia, Tbk by 288.1% in the second quarter. Engineers Gate Manager LP now owns 118,281 shares of the utilities provider's stock valued at $1,589,000 after purchasing an additional 87,803 shares during the last quarter. Himension Capital Singapore PTE. LTD. grew its holdings in PT Telekomunikasi Indonesia, Tbk by 262.3% during the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 119,283 shares of the utilities provider's stock worth $2,228,000 after acquiring an additional 86,363 shares during the last quarter. Lazard Asset Management LLC increased its position in PT Telekomunikasi Indonesia, Tbk by 23.4% in the 1st quarter. Lazard Asset Management LLC now owns 25,129,891 shares of the utilities provider's stock valued at $469,426,000 after acquiring an additional 4,770,126 shares during the period. Finally, Sei Investments Co. raised its stake in shares of PT Telekomunikasi Indonesia, Tbk by 1,021.8% during the first quarter. Sei Investments Co. now owns 289,999 shares of the utilities provider's stock valued at $5,417,000 after acquiring an additional 264,148 shares during 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 voice services, broadband internet, mobile communications, network connectivity, and information and communications technology solutions.

Telkom's consumer offerings include fixed broadband and digital services marketed under the IndiHome brand, while its mobile business is conducted primarily through Telkomsel, one of Indonesia's major wireless operators.

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