Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Sees Strong Trading Volume – Time to Buy?

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) saw unusually-high trading volume on Tuesday . Approximately 32,022,364 shares traded hands during trading, an increase of 91% from the previous session’s volume of 16,742,832 shares.The stock last traded at $8.35 and had previously closed at $8.06.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on shares of 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. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 3.0 %

The firm’s 50 day simple moving average is $7.91 and its two-hundred day simple moving average is $6.93. The firm has a market cap of $27.66 billion, a price-to-earnings ratio of -277.67 and a beta of 0.81. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last posted its earnings results on Tuesday, October 15th. The communications equipment provider reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 0.47% and a positive return on equity of 13.31%. The firm had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.73 billion. On average, equities analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ERIC. GAMMA Investing LLC raised its position in Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock worth $34,000 after acquiring an additional 3,101 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 3,924 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the first quarter worth about $36,000. BOKF NA purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the second quarter worth about $41,000. Finally, Vest Financial LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the third quarter worth about $77,000. 7.99% of the stock is owned by institutional investors.

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.