PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Shares Gap Down - Here's Why

Key Points

• PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) shares gapped down, opening at $18.16 after closing at $18.74, and last traded at $17.90 with a volume of 182,582 shares.
• Weiss Ratings restated a "sell (d+)" rating, while the stock currently has an average rating of "Reduce" with one analyst rating it as Hold and another as Sell.
• Significant institutional trading activity included Envestnet Asset Management Inc. increasing its holdings by 19.4% and Blue Trust Inc. raising theirs by 630.5% in the first quarter.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $18.74, but opened at $18.16. PT Telekomunikasi Indonesia, Tbk shares last traded at $17.90, with a volume of 182,582 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d+)" rating on shares of PT Telekomunikasi Indonesia, Tbk in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce".

PT Telekomunikasi Indonesia, Tbk Price Performance

The business's 50 day moving average is $19.19 and its 200-day moving average is $17.29. The firm has a market capitalization of $17.70 billion, a P/E ratio of 12.51, a PEG ratio of 4.01 and a beta of 0.61. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.17.

Institutional Trading of PT Telekomunikasi Indonesia, Tbk

A number of hedge funds and other institutional investors have recently modified their holdings of TLK. Envestnet Asset Management Inc. lifted its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 19.4% during the first quarter. Envestnet Asset Management Inc. now owns 884,939 shares of the utilities provider's stock worth $13,071,000 after purchasing an additional 143,928 shares during the period. Cerity Partners LLC lifted its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 142.6% during the first quarter. Cerity Partners LLC now owns 81,784 shares of the utilities provider's stock worth $1,208,000 after purchasing an additional 48,073 shares during the period. Blue Trust Inc. lifted its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 630.5% during the first quarter. Blue Trust Inc. now owns 7,772 shares of the utilities provider's stock worth $115,000 after purchasing an additional 6,708 shares during the period. GAMMA Investing LLC lifted its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 146.2% during the second quarter. GAMMA Investing LLC now owns 2,656 shares of the utilities provider's stock worth $45,000 after purchasing an additional 1,577 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in PT Telekomunikasi Indonesia, Tbk by 541.8% in the first quarter. Farther Finance Advisors LLC now owns 3,151 shares of the utilities provider's stock valued at $47,000 after buying an additional 2,660 shares during the period.

PT Telekomunikasi Indonesia, Tbk Company Profile

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk provides information and communications technology, and telecommunications network services worldwide. The company operates through mobile, consumer, enterprise, Wholesale and International Business, and Other segments. The Mobile segment offers mobile voice, SMS, value added services, and mobile broadband services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.