Ericsson (NASDAQ:ERIC) saw a large decrease in short interest in September. As of September 15th, there was short interest totalling 16,314,654 shares, a decrease of 12.7% from the August 31st total of 18,677,446 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average trading volume of 4,343,954 shares, the short-interest ratio is presently 3.8 days.
ERIC has been the subject of several research reports. Vetr cut shares of Ericsson from a “buy” rating to a “hold” rating and set a $7.69 price objective for the company. in a research note on Monday, June 6th. Zacks Investment Research raised shares of Ericsson from a “sell” rating to a “hold” rating in a research note on Monday, June 20th. Goldman Sachs Group Inc. raised shares of Ericsson from a “sell” rating to a “neutral” rating in a research note on Tuesday, June 21st. Barclays PLC raised shares of Ericsson from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, July 6th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $8.00 price objective on shares of Ericsson in a research note on Monday, July 18th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $8.49.
Hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC raised its stake in shares of Ericsson by 25.6% in the second quarter. Sterling Capital Management LLC now owns 14,382 shares of the company’s stock worth $110,000 after buying an additional 2,931 shares during the period. OLD National Bancorp IN raised its stake in shares of Ericsson by 38.2% in the second quarter. OLD National Bancorp IN now owns 15,638 shares of the company’s stock worth $120,000 after buying an additional 4,325 shares during the period. Societe Generale purchased a new stake in shares of Ericsson during the second quarter worth about $133,000. SG Americas Securities LLC raised its stake in shares of Ericsson by 49.1% in the second quarter. SG Americas Securities LLC now owns 17,344 shares of the company’s stock worth $133,000 after buying an additional 5,714 shares during the period. Finally, Smithfield Trust Co. purchased a new stake in shares of Ericsson during the second quarter worth about $136,000. Hedge funds and other institutional investors own 7.29% of the company’s stock.
Shares of Ericsson (NASDAQ:ERIC) opened at 7.21 on Friday. The firm’s 50-day moving average is $7.09 and its 200-day moving average is $7.90. The firm has a market capitalization of $23.52 billion, a price-to-earnings ratio of 14.80 and a beta of 1.01. Ericsson has a 12-month low of $6.68 and a 12-month high of $10.58.
Ericsson (NASDAQ:ERIC) last announced its earnings results on Tuesday, July 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.02. Ericsson had a return on equity of 13.14% and a net margin of 5.70%. Equities research analysts forecast that Ericsson will post $0.51 EPS for the current fiscal year.
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.
Receive News & Ratings for Ericsson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ericsson and related companies with MarketBeat.com's FREE daily email newsletter.