Telefonaktiebolaget LM Ericsson (publ) Target of Unusually High Options Trading (NASDAQ:ERIC)

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) saw unusually large options trading on Thursday. Traders purchased 2,152 put options on the stock. This is an increase of approximately 204% compared to the average daily volume of 707 put options.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.70.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Hedge funds have recently made changes to their positions in the company. Bank of Montreal Can increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% in the second quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider’s stock valued at $83,788,000 after purchasing an additional 13,531,221 shares during the period. DigitalBridge Group Inc. raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 18.6% during the second quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider’s stock worth $30,961,000 after purchasing an additional 785,261 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter valued at approximately $17,940,000. FMR LLC raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 23.8% during the third quarter. FMR LLC now owns 2,412,480 shares of the communications equipment provider’s stock worth $18,287,000 after purchasing an additional 463,415 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% in the third quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider’s stock valued at $15,402,000 after purchasing an additional 2,020,200 shares during the last quarter. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 1.1 %

Shares of ERIC traded up $0.09 during midday trading on Thursday, reaching $8.15. The stock had a trading volume of 4,899,395 shares, compared to its average volume of 16,662,625. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.95. The company’s fifty day simple moving average is $8.21 and its two-hundred day simple moving average is $7.46. The company has a market cap of $27.16 billion, a price-to-earnings ratio of -271.67 and a beta of 0.79. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.77 and a 1-year high of $8.62.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The business had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. Equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.44 earnings per share for the current year.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

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.