PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 466,119 shares, a drop of 32.2% from the August 31st total of 687,879 shares. Based on an average daily volume of 223,050 shares, the short-interest ratio is currently 2.1 days.

PT Telekomunikasi Indonesia, Tbk (NYSE TLK) opened at 34.44 on Wednesday. The firm’s 50-day moving average is $35.27 and its 200 day moving average is $33.64. PT Telekomunikasi Indonesia, Tbk has a 1-year low of $27.17 and a 1-year high of $66.11. The stock has a market capitalization of $34.12 billion, a price-to-earnings ratio of 20.26 and a beta of 0.59.

A number of equities analysts have recently commented on TLK shares. BidaskClub cut PT Telekomunikasi Indonesia, Tbk from a “buy” rating to a “hold” rating in a report on Monday, July 24th. UBS AG lowered PT Telekomunikasi Indonesia, Tbk from a “neutral” rating to a “sell” rating in a report on Friday, September 29th.

Several institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 34.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,639 shares of the utilities provider’s stock worth $123,000 after acquiring an additional 935 shares during the period. Advisor Group Inc. grew its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 11.5% in the second quarter. Advisor Group Inc. now owns 4,867 shares of the utilities provider’s stock valued at $154,000 after purchasing an additional 501 shares during the period. CIBC World Markets Inc. purchased a new stake in shares of PT Telekomunikasi Indonesia, Tbk in the second quarter valued at about $203,000. SG Americas Securities LLC grew its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 29.1% in the second quarter. SG Americas Securities LLC now owns 6,333 shares of the utilities provider’s stock valued at $213,000 after purchasing an additional 1,428 shares during the period. Finally, Ronald Blue & Co. LLC purchased a new stake in shares of PT Telekomunikasi Indonesia, Tbk in the second quarter valued at about $215,000. 5.74% of the stock is owned by institutional investors and hedge funds.

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About PT Telekomunikasi Indonesia, Tbk

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk offers telecommunications and network services. The Company’s segments include Corporate, Home, Personal and Others. The Corporate segment provides telecommunications services, including interconnection, leased lines, satellite, contact center, broadband access, information technology services, and data and Internet services to companies and institutions.

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