SK Telecom (NYSE:SKM) Shares Gap Down - Should You Sell?

SK Telecom Co., Ltd. (NYSE:SKM - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $22.43, but opened at $21.02. SK Telecom shares last traded at $20.97, with a volume of 50,949 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SKM shares. UBS Group assumed coverage on SK Telecom in a report on Wednesday, February 19th. They set a "buy" rating for the company. The Goldman Sachs Group cut shares of SK Telecom from a "buy" rating to a "neutral" rating in a research note on Monday, March 3rd. Finally, StockNews.com upgraded shares of SK Telecom from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 18th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy".

SK Telecom Trading Down 6.2 %

The business has a 50 day moving average of $21.81 and a 200 day moving average of $22.01. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.48.

SK Telecom (NYSE:SKM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The Wireless communications provider reported $0.63 earnings per share for the quarter. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. On average, research analysts forecast that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

Several institutional investors and hedge funds have recently bought and sold shares of SKM. Principal Securities Inc. grew its holdings in shares of SK Telecom by 147.7% during the 4th quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider's stock worth $25,000 after purchasing an additional 721 shares during the period. Parallel Advisors LLC boosted its position in SK Telecom by 55.0% during the 1st quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider's stock worth $53,000 after purchasing an additional 884 shares during the period. Matthews International Capital Management LLC raised its position in SK Telecom by 102.5% in the fourth quarter. Matthews International Capital Management LLC now owns 2,550 shares of the Wireless communications provider's stock valued at $54,000 after purchasing an additional 1,291 shares during the period. GAMMA Investing LLC lifted its stake in shares of SK Telecom by 34.4% during the fourth quarter. GAMMA Investing LLC now owns 3,019 shares of the Wireless communications provider's stock worth $64,000 after purchasing an additional 773 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of SK Telecom by 15.2% in the fourth quarter. Quadrant Capital Group LLC now owns 5,797 shares of the Wireless communications provider's stock worth $122,000 after buying an additional 764 shares during the period.

SK Telecom Company Profile

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.

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