Ericsson (ERIC) Sees Large Volume Increase

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Shares of Ericsson (NASDAQ:ERIC) saw unusually-strong trading volume on Tuesday . Approximately 4,801,513 shares traded hands during mid-day trading, an increase of 13% from the previous session’s volume of 4,267,632 shares.The stock last traded at $6.76 and had previously closed at $6.89.
Several equities research analysts have issued reports on the stock. Vetr lowered shares of Ericsson from a “buy” rating to a “hold” rating and set a $7.69 target price for the company. in a research report on Monday, June 6th. Zacks Investment Research upgraded shares of Ericsson from a “sell” rating to a “hold” rating in a research report on Monday, June 20th. Goldman Sachs Group Inc. upgraded shares of Ericsson from a “sell” rating to a “neutral” rating in a research report on Tuesday, June 21st. Barclays PLC upgraded shares of Ericsson from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, July 6th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $8.00 target price on shares of Ericsson in a research report on Monday, July 18th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $8.49.
The stock’s 50-day moving average price is $7.29 and its 200 day moving average price is $8.12. The company has a market cap of $22.11 billion, a price-to-earnings ratio of 13.92 and a beta of 1.01.

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Ericsson (NASDAQ:ERIC) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by $0.02. Ericsson had a net margin of 5.70% and a return on equity of 13.14%. On average, analysts predict that Ericsson will post $0.51 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of ERIC. Rhumbline Advisers increased its position in Ericsson by 0.9% in the second quarter. Rhumbline Advisers now owns 34,279 shares of the company’s stock worth $263,000 after buying an additional 289 shares in the last quarter. Timber Hill LLC increased its position in Ericsson by 4.5% in the second quarter. Timber Hill LLC now owns 24,244 shares of the company’s stock worth $186,000 after buying an additional 1,045 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in Ericsson by 4.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 26,876 shares of the company’s stock worth $270,000 after buying an additional 1,148 shares in the last quarter. BlackRock Fund Advisors increased its position in Ericsson by 1.0% in the first quarter. BlackRock Fund Advisors now owns 142,343 shares of the company’s stock worth $1,428,000 after buying an additional 1,430 shares in the last quarter. Finally, Wrapmanager Inc. increased its position in Ericsson by 5.4% in the second quarter. Wrapmanager Inc. now owns 30,568 shares of the company’s stock worth $235,000 after buying an additional 1,557 shares in the last quarter. Hedge funds and other institutional investors own 7.29% of the company’s stock.
Ericsson Company Profile
Telefonaktiebolaget LM Ericsson is a Sweden-based telecommunications operator. The Company offers hardware, software and services that drive development in mobility, broadband and the cloud, creating ecosystems across various industries. Ericsson’s core businesses are Radio, Core and Transmission, and Telecom Services.

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