Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Gap Up to $6.39

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $6.39, but opened at $6.58. Telefonaktiebolaget LM Ericsson (publ) shares last traded at $6.66, with a volume of 10,245,348 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ERIC shares. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a report on Friday, April 19th. JPMorgan Chase & Co. decreased their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Telefonaktiebolaget LM Ericsson (publ) has an average rating of “Hold” and a consensus price target of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.22 and a quick ratio of 0.94. The stock’s fifty day simple moving average is $5.94 and its 200-day simple moving average is $5.69. The company has a market capitalization of $22.33 billion, a P/E ratio of -9.60 and a beta of 0.84.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings results on Tuesday, April 16th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 9.75% and a positive return on equity of 11.93%. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.33 billion. On average, equities analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Hedge funds have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 835,784 shares of the communications equipment provider’s stock valued at $5,265,000 after buying an additional 819,083 shares during the period. First Affirmative Financial Network lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 9.4% in the first quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider’s stock valued at $145,000 after buying an additional 2,268 shares during the period. Natixis Advisors L.P. lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 15.4% in the fourth quarter. Natixis Advisors L.P. now owns 89,110 shares of the communications equipment provider’s stock valued at $561,000 after buying an additional 11,909 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 412.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 361,420 shares of the communications equipment provider’s stock valued at $2,277,000 after buying an additional 290,949 shares during the period. Finally, Dorsey & Whitney Trust CO LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 198.3% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 40,141 shares of the communications equipment provider’s stock valued at $253,000 after buying an additional 26,684 shares during the period. Institutional investors own 7.99% of the company’s stock.

About Telefonaktiebolaget LM Ericsson (publ)

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.