SK Telecom (NYSE:SKM) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

SK Telecom Co., Ltd. (NYSE:SKM) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $22.47 and traded as high as $31.78. SK Telecom shares last traded at $31.5350, with a volume of 1,077,903 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SKM shares. Zacks Research raised shares of SK Telecom from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. Citigroup lowered SK Telecom from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Daiwa Securities Group cut SK Telecom to a “hold” rating in a research report on Wednesday, January 14th. Weiss Ratings reissued a “hold (c)” rating on shares of SK Telecom in a report on Monday, December 29th. Finally, Bank of America downgraded SK Telecom from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

SK Telecom Trading Up 0.3%

The stock has a market capitalization of $12.10 billion, a P/E ratio of 46.38, a price-to-earnings-growth ratio of 4.40 and a beta of 0.50. The stock’s fifty day moving average price is $24.99 and its two-hundred day moving average price is $22.47. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68.

SK Telecom (NYSE:SKM) last issued its earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share for the quarter. The company had revenue of $2.83 billion for the quarter. SK Telecom had a net margin of 2.28% and a return on equity of 3.29%. Equities research analysts forecast that SK Telecom Co., Ltd. will post 2.27 EPS for the current year.

Institutional Investors Weigh In On SK Telecom

Hedge funds have recently made changes to their positions in the company. West Family Investments Inc. bought a new stake in SK Telecom during the 2nd quarter valued at about $416,000. North of South Capital LLP bought a new stake in shares of SK Telecom in the 3rd quarter worth $1,133,000. Atria Investments Inc purchased a new position in shares of SK Telecom in the second quarter worth $504,000. Quadrant Capital Group LLC lifted its holdings in shares of SK Telecom by 1,406.1% during the second quarter. Quadrant Capital Group LLC now owns 108,303 shares of the Wireless communications provider’s stock valued at $2,529,000 after purchasing an additional 101,112 shares in the last quarter. Finally, Vise Technologies Inc. purchased a new stake in shares of SK Telecom during the second quarter valued at $631,000.

About SK Telecom

SK Telecom Co, Ltd. (NYSE:SKM) is South Korea’s largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.