Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Short Interest Update

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 31,350,000 shares, an increase of 5.3% from the October 31st total of 29,770,000 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily volume of 16,930,000 shares, the short-interest ratio is presently 1.9 days.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

NASDAQ ERIC traded down $0.02 during trading hours on Tuesday, hitting $8.20. 8,196,587 shares of the company’s stock traded hands, compared to its average volume of 16,825,031. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.39. The firm’s 50-day moving average is $8.05 and its 200-day moving average is $7.11. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.77 and a 52-week high of $8.62.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $5.93 billion for the quarter, compared to the consensus estimate 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%. As a group, research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds and other institutional investors have recently bought and sold shares of ERIC. Tidal Investments LLC raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 102.3% during the 1st quarter. Tidal Investments LLC now owns 23,439 shares of the communications equipment provider’s stock valued at $129,000 after buying an additional 11,850 shares during the period. Cetera Advisors LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 97.8% in the 1st quarter. Cetera Advisors LLC now owns 22,107 shares of the communications equipment provider’s stock valued at $122,000 after purchasing an additional 10,929 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.2% during the 2nd quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock worth $34,000 after purchasing an additional 3,101 shares during the last quarter. First Affirmative Financial Network raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 18.2% in the 2nd quarter. First Affirmative Financial Network now owns 31,139 shares of the communications equipment provider’s stock valued at $192,000 after buying an additional 4,785 shares during the period. Finally, QRG Capital Management Inc. lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 176.2% in the second quarter. QRG Capital Management Inc. now owns 188,231 shares of the communications equipment provider’s stock valued at $1,161,000 after buying an additional 120,072 shares during the last quarter. 7.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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