PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Shares Gap Down – Should You Sell?

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK)’s share price gapped down prior to trading on Monday. The stock had previously closed at $11.03, but opened at $10.20. PT Telekomunikasi Indonesia, Tbk shares last traded at $10.3850, with a volume of 2,296,955 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TLK. Zacks Research raised PT Telekomunikasi Indonesia, Tbk from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 8th. Wall Street Zen lowered PT Telekomunikasi Indonesia, Tbk from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings lowered PT Telekomunikasi Indonesia, Tbk from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce”.

PT Telekomunikasi Indonesia, Tbk Stock Performance

The firm has a market capitalization of $10.23 billion, a P/E ratio of 9.95, a P/E/G ratio of 0.73 and a beta of 0.40. The stock has a fifty day simple moving average of $14.04 and a two-hundred day simple moving average of $15.30. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.79 and a quick ratio of 0.78.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC boosted its holdings in PT Telekomunikasi Indonesia, Tbk by 23.4% in the first quarter. Lazard Asset Management LLC now owns 25,129,891 shares of the utilities provider’s stock worth $469,426,000 after acquiring an additional 4,770,126 shares in the last quarter. Raiffeisen Bank International AG bought a new position in PT Telekomunikasi Indonesia, Tbk during the second quarter valued at about $4,784,000. Barometer Capital Management Inc. purchased a new stake in shares of PT Telekomunikasi Indonesia, Tbk during the 1st quarter worth approximately $6,385,000. Sei Investments Co. increased its holdings in PT Telekomunikasi Indonesia, Tbk by 1,021.8% in the 1st quarter. Sei Investments Co. now owns 289,999 shares of the utilities provider’s stock worth $5,417,000 after acquiring an additional 264,148 shares during the last quarter. Finally, Engineers Gate Manager LP lifted its holdings in PT Telekomunikasi Indonesia, Tbk by 288.1% during the second quarter. Engineers Gate Manager LP now owns 118,281 shares of the utilities provider’s stock valued at $1,589,000 after purchasing an additional 87,803 shares during the last quarter.

PT Telekomunikasi Indonesia, Tbk Company Profile

PT Telekomunikasi Indonesia, Tbk, commonly known as Telkom Indonesia, is Indonesia’s state-controlled telecommunications and digital services company. Through its subsidiaries and business units, the company provides fixed-line voice services, broadband internet, mobile communications, network connectivity, and information and communications technology solutions.

Telkom’s consumer offerings include fixed broadband and digital services marketed under the IndiHome brand, while its mobile business is conducted primarily through Telkomsel, one of Indonesia’s major wireless operators.