PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Shares Gap Up - Should You Buy?

Key Points

• TLK shares jumped at the open, rising from a prior close of $10.45 to $11.30 and last trading around $11.36 on volume of roughly 2 million shares.
• Analyst sentiment remains cautious: Wall Street Zen downgraded the stock to “hold,” while Zacks Research upgraded it to “hold.” MarketBeat reports an average rating of “Reduce”, with one analyst issuing a hold and another a sell rating.
• The company has an $11.4 billion market capitalization, a P/E ratio of 11.01 and low debt-to-equity of 0.20, while several institutional investors recently increased their positions in TLK.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Get Free Report) gapped up prior to trading on Tuesday. The stock had previously closed at $10.45, but opened at $11.30. PT Telekomunikasi Indonesia, Tbk shares last traded at $11.3550, with a volume of 2,005,994 shares.

Analyst Upgrades and Downgrades

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

PT Telekomunikasi Indonesia, Tbk Stock Performance

The stock has a market capitalization of $11.40 billion, a P/E ratio of 11.01, a P/E/G ratio of 0.73 and a beta of 0.40. The company's 50-day moving average is $13.95 and its two-hundred day moving average is $15.25. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20.

Hedge Funds Weigh In On PT Telekomunikasi Indonesia, Tbk

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TLK. Sterling Investment Management LLC bought a new stake in shares of PT Telekomunikasi Indonesia, Tbk during the third quarter valued at about $753,000. Legacy Wealth Asset Management LLC grew its position in PT Telekomunikasi Indonesia, Tbk by 1.0% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 126,634 shares of the utilities provider's stock valued at $1,615,000 after buying an additional 1,274 shares in the last quarter. Farther Finance Advisors LLC grew its position in PT Telekomunikasi Indonesia, Tbk by 38.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 12,595 shares of the utilities provider's stock valued at $161,000 after buying an additional 3,505 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in PT Telekomunikasi Indonesia, Tbk by 3.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 25,034 shares of the utilities provider's stock valued at $336,000 after buying an additional 776 shares in the last quarter. Finally, Engineers Gate Manager LP increased its stake in PT Telekomunikasi Indonesia, Tbk by 288.1% during the 2nd quarter. Engineers Gate Manager LP now owns 118,281 shares of the utilities provider's stock valued at $1,589,000 after buying an additional 87,803 shares during the period.

PT Telekomunikasi Indonesia, Tbk Company Profile

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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