SK Telecom (NYSE:SKM) Shares Gap Down - Time to Sell?

SK Telecom Co., Ltd. (NYSE:SKM - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $23.58, but opened at $21.88. SK Telecom shares last traded at $21.92, with a volume of 59,639 shares changing hands.

Wall Street Analyst Weigh In

SKM has been the topic of a number of recent research reports. Wall Street Zen lowered shares of SK Telecom from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. New Street Research upgraded shares of SK Telecom to a "hold" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. downgraded shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research note on Monday, May 12th. Citigroup downgraded shares of SK Telecom from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group downgraded shares of SK Telecom from a "neutral" rating to a "sell" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold".

SK Telecom Price Performance

The business's 50-day moving average price is $21.60 and its 200 day moving average price is $21.61. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $8.78 billion, a P/E ratio of 9.21, a price-to-earnings-growth ratio of 10.72 and a beta of 0.64.

SK Telecom (NYSE:SKM - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The Wireless communications provider reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.04. SK Telecom had a net margin of 7.31% and a return on equity of 10.98%. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.12 billion. Analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

Large investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new stake in SK Telecom during the second quarter valued at approximately $313,000. Parallel Advisors LLC lifted its position in SK Telecom by 540.8% during the second quarter. Parallel Advisors LLC now owns 15,955 shares of the Wireless communications provider's stock valued at $373,000 after purchasing an additional 13,465 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in SK Telecom by 46.9% during the first quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider's stock valued at $5,531,000 after purchasing an additional 83,030 shares during the last quarter. Rhumbline Advisers lifted its position in SK Telecom by 8.6% during the first quarter. Rhumbline Advisers now owns 94,631 shares of the Wireless communications provider's stock valued at $2,012,000 after purchasing an additional 7,485 shares during the last quarter. Finally, Great Lakes Advisors LLC lifted its position in SK Telecom by 543.6% during the first quarter. Great Lakes Advisors LLC now owns 593,312 shares of the Wireless communications provider's stock valued at $12,614,000 after purchasing an additional 501,125 shares during the last quarter.

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.