Telefonaktiebolaget LM Ericsson (publ) Sees Unusually Large Options Volume (NASDAQ:ERIC)

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) saw unusually large options trading activity on Thursday. Stock traders bought 2,152 put options on the company. This represents an increase of 204% compared to the average daily volume of 707 put options.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds have recently modified their holdings of ERIC. Bank of Montreal Can lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% in the 2nd quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider’s stock valued at $83,788,000 after buying an additional 13,531,221 shares in the last quarter. Hsbc Holdings PLC acquired a new position in Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter valued at $17,940,000. Two Sigma Advisers LP lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% in the 3rd 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 in the last quarter. Acadian Asset Management LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth $11,869,000. Finally, DigitalBridge Group Inc. grew its holdings in shares of 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 buying an additional 785,261 shares in the last quarter. 7.99% of the stock is owned by hedge funds and other institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of ERIC stock traded up $0.09 during trading hours on Thursday, hitting $8.15. The company’s stock had a trading volume of 4,899,395 shares, compared to its average volume of 16,662,625. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average of $8.21 and a 200 day moving average of $7.46. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.77 and a 12-month high of $8.62. The stock has a market cap of $27.16 billion, a PE ratio of -271.67 and a beta of 0.79.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.