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

Key Points

• PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) shares experienced a significant gap up from $18.08 to $19.54 before trading at $19.56 with a volume of 192,743 shares.
• Weiss Ratings reaffirmed a "sell (d+)" rating for the stock, with analysts giving an average rating of "Reduce."
• Several institutional investors greatly increased their stakes in the company, with Hantz Financial Services Inc. raising its position by 1,258.9% in the second quarter.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $18.08, but opened at $19.54. PT Telekomunikasi Indonesia, Tbk shares last traded at $19.56, with a volume of 192,743 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed 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 given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Reduce".

PT Telekomunikasi Indonesia, Tbk Stock Performance

The company has a market cap of $19.39 billion, a P/E ratio of 13.69, a P/E/G ratio of 3.95 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. The business has a fifty day simple moving average of $19.17 and a two-hundred day simple moving average of $17.40.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in shares of PT Telekomunikasi Indonesia, Tbk in the 2nd quarter worth $25,000. Smartleaf Asset Management LLC increased its position in PT Telekomunikasi Indonesia, Tbk by 70.8% in the second quarter. Smartleaf Asset Management LLC now owns 2,222 shares of the utilities provider's stock worth $37,000 after buying an additional 921 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of PT Telekomunikasi Indonesia, Tbk by 1,258.9% in the second quarter. Hantz Financial Services Inc. now owns 2,446 shares of the utilities provider's stock worth $41,000 after buying an additional 2,266 shares during the period. Allworth Financial LP lifted its position in shares of PT Telekomunikasi Indonesia, Tbk by 1,032.4% during the 2nd quarter. Allworth Financial LP now owns 2,412 shares of the utilities provider's stock valued at $41,000 after buying an additional 2,199 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of PT Telekomunikasi Indonesia, Tbk by 146.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,656 shares of the utilities provider's stock valued at $45,000 after acquiring an additional 1,577 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.

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