SK Telecom Co. (NYSE:SKM)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $22.25, but opened at $22.31. SK Telecom shares last traded at $22.54, with a volume of 121,186 shares.

Separately, HSBC downgraded shares of SK Telecom from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th.

The stock has a market cap of $14.61 billion and a P/E ratio of 10.66. The stock’s 50 day moving average price is $21.57 and its 200 day moving average price is $20.34.

A hedge fund recently raised its stake in SK Telecom stock. Morgan Stanley boosted its position in SK Telecom Co. (NYSE:SKM) by 117.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 455,543 shares of the company’s stock after buying an additional 246,346 shares during the period. Morgan Stanley’s holdings in SK Telecom were worth $9,180,000 as of its most recent SEC filing.

SK Telecom Co, Ltd. is a wireless telecommunications service provider. The Company offers the following core services: Cellular voice services; Wireless data services; Broadband Internet, Internet Protocol television (IPTV) and fixed-line telephone services, and New businesses. The Company provides wireless voice transmission and wireless global roaming services.

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