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

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 31,350,000 shares, a growth of 5.3% from the October 31st total of 29,770,000 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average daily volume of 16,930,000 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the 2nd quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock valued at $34,000 after buying an additional 3,101 shares during the period. BOKF NA acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter worth approximately $41,000. Hexagon Capital Partners LLC increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock valued at $43,000 after purchasing an additional 3,924 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 37.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock valued at $56,000 after purchasing an additional 2,458 shares during the period. Finally, Williams & Novak LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth $76,000. 7.99% of the stock is owned by hedge funds and other institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.2 %

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

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

Analyst Ratings Changes

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

About Telefonaktiebolaget LM Ericsson (publ)

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.