Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Upgraded by StockNews.com to “Strong-Buy”

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday.

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

Telefonaktiebolaget LM Ericsson (publ) Price Performance

ERIC stock opened at $8.53 on Wednesday. The stock has a market capitalization of $28.43 billion, a price-to-earnings ratio of -8.62 and a beta of 0.83. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. Telefonaktiebolaget LM Ericsson has a 52-week low of $4.33 and a 52-week high of $8.62. The stock’s fifty day simple moving average is $7.36 and its 200-day simple moving average is $6.40.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ERIC. GAMMA Investing LLC increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 131.2% during the second quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider’s stock worth $34,000 after acquiring an additional 3,101 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the first quarter valued at approximately $36,000. BOKF NA acquired a new position in Telefonaktiebolaget LM Ericsson (publ) during the second quarter valued at approximately $41,000. Hexagon Capital Partners LLC lifted its position in Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 3,924 shares in the last quarter. Finally, NBC Securities Inc. increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the first 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 in the last quarter. 7.99% of the stock is owned by hedge funds and other institutional investors.

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.