Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK) Sees Large Volume Increase – Time to Buy?

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK) shares saw strong trading volume on Monday . 1,033,727 shares changed hands during mid-day trading, an increase of 166% from the previous session’s volume of 389,123 shares.The stock last traded at $16.67 and had previously closed at $16.83.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk from a “hold” rating to a “buy” rating in a research report on Friday, October 4th.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk Trading Down 5.6 %

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.69 and a current ratio of 0.70. The stock has a market cap of $13.91 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 1.58 and a beta of 0.78. The company’s 50 day simple moving average is $17.56 and its two-hundred day simple moving average is $18.44.

Hedge Funds Weigh In On Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk

Hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk by 12.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,567,419 shares of the utilities provider’s stock worth $85,411,000 after purchasing an additional 492,128 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk by 268.1% during the 2nd quarter. Millennium Management LLC now owns 316,621 shares of the utilities provider’s stock worth $5,921,000 after acquiring an additional 230,613 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk during the 2nd quarter valued at about $2,163,000. State of New Jersey Common Pension Fund D raised its stake in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk by 67.0% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 284,588 shares of the utilities provider’s stock valued at $5,629,000 after acquiring an additional 114,209 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk by 127.3% during the third quarter. Van ECK Associates Corp now owns 198,504 shares of the utilities provider’s stock worth $3,710,000 after purchasing an additional 111,162 shares during the period.

About Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk provides information and communications technology, and telecommunications network services worldwide. The company operates through mobile, consumer, enterprise, Wholesale and International Business, and Other segments. The Mobile segment offers mobile voice, SMS, value added services, and mobile broadband services.