Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Short Interest Up 9.1% in January

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) saw a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 39,320,000 shares, an increase of 9.1% from the January 15th total of 36,040,000 shares. Based on an average daily trading volume, of 17,180,000 shares, the short-interest ratio is presently 2.3 days. Approximately 1.3% of the shares of the company are short sold.

Wall Street Analyst Weigh In

ERIC has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research report on Monday, October 21st. StockNews.com downgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 24th.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several large investors have recently made changes to their positions in ERIC. Renaissance Technologies LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 401.1% during the fourth quarter. Renaissance Technologies LLC now owns 13,607,012 shares of the communications equipment provider’s stock worth $109,673,000 after buying an additional 10,891,451 shares in the last quarter. Millennium Management LLC lifted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 234.6% during the 4th quarter. Millennium Management LLC now owns 6,744,940 shares of the communications equipment provider’s stock valued at $54,364,000 after acquiring an additional 4,729,207 shares during the last quarter. DigitalBridge Group Inc. boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 28.8% during the 4th quarter. DigitalBridge Group Inc. now owns 6,382,140 shares of the communications equipment provider’s stock worth $51,440,000 after acquiring an additional 1,427,386 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 55.0% in the 4th quarter. Sei Investments Co. now owns 4,808,322 shares of the communications equipment provider’s stock worth $38,755,000 after acquiring an additional 1,705,246 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the fourth quarter worth $23,440,000. Institutional investors own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.5 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $7.87 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 0.96. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.77 and a 1-year high of $8.90. The business’s fifty day moving average price is $8.07 and its two-hundred day moving average price is $7.83. The company has a market capitalization of $26.23 billion, a P/E ratio of -787,000.00, a PEG ratio of 3.65 and a beta of 0.77.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its quarterly earnings data on Friday, January 24th. The communications equipment provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a return on equity of 13.70% and a net margin of 0.06%. As a group, research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.48 EPS 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.