PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Shares Gap Down – What’s Next?

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK)’s share price gapped down before the market opened 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.

Analyst Ratings Changes

A number of research firms have weighed in on TLK. Zacks Research upgraded PT Telekomunikasi Indonesia, Tbk from a “strong sell” rating to a “hold” rating in a report on Thursday, October 8th. Wall Street Zen lowered shares of PT Telekomunikasi Indonesia, Tbk from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings cut shares of PT Telekomunikasi Indonesia, Tbk from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

PT Telekomunikasi Indonesia, Tbk Stock Performance

The company has a market capitalization of $11.55 billion, a PE ratio of 10.05, a PEG ratio of 0.69 and a beta of 0.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.78 and a current ratio of 0.79. The company has a 50 day moving average price of $13.89 and a 200 day moving average price of $15.20.

Institutional Trading of PT Telekomunikasi Indonesia, Tbk

Several institutional investors have recently added to or reduced their stakes in the stock. Sterling Investment Management LLC acquired a new stake in shares of PT Telekomunikasi Indonesia, Tbk in the 3rd quarter valued at about $753,000. Legacy Wealth Asset Management LLC grew its stake in PT Telekomunikasi Indonesia, Tbk by 1.0% in the third quarter. Legacy Wealth Asset Management LLC now owns 126,634 shares of the utilities provider’s stock worth $1,615,000 after purchasing an additional 1,274 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in PT Telekomunikasi Indonesia, Tbk by 38.6% in the third quarter. Farther Finance Advisors LLC now owns 12,595 shares of the utilities provider’s stock valued at $161,000 after buying an additional 3,505 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in PT Telekomunikasi Indonesia, Tbk by 3.2% in the second quarter. Sequoia Financial Advisors LLC now owns 25,034 shares of the utilities provider’s stock valued at $336,000 after buying an additional 776 shares during the last quarter. Finally, Engineers Gate Manager LP raised its stake 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 buying an additional 87,803 shares in the last quarter.

About PT Telekomunikasi Indonesia, Tbk

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.