Tidal Investments LLC Grows Stock Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Tidal Investments LLC lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 11.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 30,197 shares of the communications equipment provider’s stock after acquiring an additional 3,026 shares during the period. Tidal Investments LLC’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $229,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Bank of Montreal Can grew its position in Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% during the 2nd 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 during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth $17,940,000. Two Sigma Advisers LP grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 17,266.7% during the third quarter. Two Sigma Advisers LP now owns 2,031,900 shares of the communications equipment provider’s stock valued at $15,402,000 after buying an additional 2,020,200 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter valued at $11,869,000. Finally, DigitalBridge Group Inc. raised its stake in Telefonaktiebolaget LM Ericsson (publ) by 18.6% in the 2nd 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. Institutional investors and hedge funds own 7.99% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 0.7 %

Shares of ERIC stock opened at $8.17 on Thursday. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.62. The stock has a market cap of $27.23 billion, a P/E ratio of -272.33 and a beta of 0.79. The stock has a 50 day moving average of $8.25 and a 200 day moving average of $7.38. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39.

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

Analyst Ratings Changes

ERIC has been the topic of a number of recent research reports. StockNews.com upgraded 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 price objective on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.70.

Telefonaktiebolaget LM Ericsson (publ) 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.