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

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 stock are short sold.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several large investors have recently bought and sold shares of the business. Checchi Capital Advisers LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 10.8% during the fourth quarter. Checchi Capital Advisers LLC now owns 15,015 shares of the communications equipment provider’s stock worth $121,000 after purchasing an additional 1,464 shares during the last quarter. First Affirmative Financial Network grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 4.7% during 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 last quarter. D.A. Davidson & CO. grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 5.7% during the third 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 grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 8.3% during the fourth quarter. Aaron Wealth Advisors LLC now owns 28,345 shares of the communications equipment provider’s stock worth $228,000 after purchasing an additional 2,172 shares during the last quarter. Finally, Pitcairn Co. grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 14.7% during the third quarter. Pitcairn Co. now owns 17,806 shares of the communications equipment provider’s stock worth $135,000 after purchasing an additional 2,279 shares during the last quarter. Hedge funds and other institutional investors own 7.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a report 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 note on Friday, January 24th.

Telefonaktiebolaget LM Ericsson (publ) Trading Down 0.5 %

NASDAQ:ERIC traded down $0.04 during trading hours on Friday, reaching $7.87. 7,777,501 shares of the stock were exchanged, compared to its average volume of 17,897,474. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average of $8.07 and a two-hundred day moving average of $7.83. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.90. The company has a market capitalization of $26.23 billion, a price-to-earnings ratio of -787,000.00, a PEG ratio of 3.65 and a beta of 0.77.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings results 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 return on equity of 13.70% and a net margin of 0.06%. On average, equities analysts predict 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.