Investors Buy High Volume of Call Options on Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) saw unusually large options trading activity on Tuesday. Traders bought 4,336 call options on the stock. This is an increase of 450% compared to the average daily volume of 788 call options.

Analyst Upgrades and Downgrades

Several research analysts have commented on ERIC shares. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.90.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can raised its holdings in Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% in the second quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider’s stock worth $83,788,000 after purchasing an additional 13,531,221 shares in the last quarter. DigitalBridge Group Inc. grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 18.6% during the second quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider’s stock worth $30,961,000 after acquiring an additional 785,261 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth about $17,940,000. Acadian Asset Management LLC purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth about $11,869,000. Finally, Marshall Wace LLP grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 39.3% during the second quarter. Marshall Wace LLP now owns 1,898,019 shares of the communications equipment provider’s stock worth $11,711,000 after acquiring an additional 535,933 shares during the last quarter. 7.99% of the stock is currently owned by institutional investors.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

ERIC stock opened at $8.48 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.90. The business has a 50-day moving average price of $7.40 and a 200 day moving average price of $6.41. The company has a market capitalization of $28.26 billion, a P/E ratio of -8.57 and a beta of 0.83. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.33 and a 1-year high of $8.62.

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.