Seven Eight Capital LP Invests $348,000 in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Seven Eight Capital LP acquired a new position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 56,472 shares of the communications equipment provider’s stock, valued at approximately $348,000.

A number of other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC increased 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 buying an additional 3,101 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 1st quarter valued at approximately $36,000. BOKF NA bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter valued at approximately $41,000. Lake Street Advisors Group LLC purchased a new stake in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth approximately $64,000. Finally, NBC Securities Inc. raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 258.1% during the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider’s stock worth $59,000 after acquiring an additional 7,744 shares during the period. 7.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 1.5 %

Shares of ERIC opened at $7.57 on Monday. The business’s 50 day moving average is $7.04 and its 200 day moving average is $6.15. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.33 and a 12-month high of $7.65. The company has a market capitalization of $25.23 billion, a PE ratio of -7.65 and a beta of 0.83.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its quarterly earnings data on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 14.13% and a positive return on equity of 11.39%. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.29 billion. Research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.41 earnings per share for the current fiscal year.

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.