Telefonaktiebolaget LM Ericsson (publ) Sees Unusually Large Options Volume (NASDAQ:ERIC)

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) was the recipient of unusually large options trading activity on Thursday. Traders purchased 2,152 put options on the stock. This is an increase of 204% compared to the typical daily volume of 707 put options.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ERIC. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.70.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 1.0 %

ERIC opened at $8.15 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a twelve month low of $4.77 and a twelve month high of $8.62. The stock has a market capitalization of $27.16 billion, a price-to-earnings ratio of -271.67 and a beta of 0.79. The company has a 50-day simple moving average of $8.21 and a 200 day simple moving average of $7.46.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $5.93 billion during the quarter, compared to the consensus estimate 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%. Analysts predict that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current fiscal year.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

Several large investors have recently bought and sold shares of ERIC. Allspring Global Investments Holdings LLC grew its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 37.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider’s stock worth $56,000 after purchasing an additional 2,458 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 19.2% in the second quarter. Natixis Advisors LLC now owns 93,150 shares of the communications equipment provider’s stock worth $575,000 after purchasing an additional 15,006 shares during the last quarter. XY Capital Ltd acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at $1,984,000. Lake Street Advisors Group LLC lifted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 49.0% during the 2nd quarter. Lake Street Advisors Group LLC now owns 15,341 shares of the communications equipment provider’s stock worth $95,000 after buying an additional 5,047 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter valued at about $11,869,000. 7.99% of the stock is owned by institutional investors and hedge funds.

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.