Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Sees Significant Increase in Short Interest

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 39,320,000 shares, a growth of 9.1% from the January 15th total of 36,040,000 shares. Based on an average daily volume of 17,180,000 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.3% of the company’s stock are sold short.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 0.5 %

Shares of NASDAQ:ERIC opened at $7.87 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 0.96 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $26.23 billion, a PE ratio of -787,000.00, a P/E/G ratio of 3.65 and a beta of 0.77. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.77 and a 1 year high of $8.90. The firm has a fifty day moving average price of $8.07 and a 200 day moving average price of $7.83.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings data on Friday, January 24th. The communications equipment provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a net margin of 0.06% and a return on equity of 13.70%. Analysts expect that Telefonaktiebolaget LM Ericsson will post 0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of institutional investors have recently modified their holdings of the company. Checchi Capital Advisers LLC grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 10.8% in the 4th quarter. Checchi Capital Advisers LLC now owns 15,015 shares of the communications equipment provider’s stock valued at $121,000 after buying an additional 1,464 shares during the last quarter. First Affirmative Financial Network increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 4.7% in the fourth quarter. First Affirmative Financial Network now owns 40,182 shares of the communications equipment provider’s stock worth $324,000 after purchasing an additional 1,798 shares during the period. D.A. Davidson & CO. lifted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 5.7% during the 3rd quarter. D.A. Davidson & CO. now owns 34,866 shares of the communications equipment provider’s stock worth $264,000 after purchasing an additional 1,866 shares during the last quarter. Aaron Wealth Advisors LLC boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 8.3% during the 4th quarter. Aaron Wealth Advisors LLC now owns 28,345 shares of the communications equipment provider’s stock valued at $228,000 after purchasing an additional 2,172 shares during the period. Finally, Pitcairn Co. grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 14.7% in the 3rd quarter. Pitcairn Co. now owns 17,806 shares of the communications equipment provider’s stock valued at $135,000 after buying an additional 2,279 shares during the last quarter. Institutional investors own 7.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ERIC shares. JPMorgan Chase & Co. raised their price target 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. StockNews.com lowered shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 24th.

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.