Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Given Average Rating of “Reduce” by Brokerages

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) have been given an average rating of “Reduce” by the four ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $6.70.

A number of research firms have recently issued reports on ERIC. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a 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 company a “neutral” rating in a report on Monday.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 1.0 %

Shares of ERIC opened at $8.50 on Friday. The stock has a 50 day moving average price of $7.56 and a 200 day moving average price of $6.52. Telefonaktiebolaget LM Ericsson has a one year low of $4.33 and a one year high of $8.62. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.90 and a current ratio of 1.14. The stock has a market capitalization of $28.33 billion, a price-to-earnings ratio of -8.59 and a beta of 0.83.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised 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 purchasing an additional 3,101 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 1st quarter worth approximately $36,000. BOKF NA purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the 2nd quarter valued at approximately $41,000. Hexagon Capital Partners LLC raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the 3rd 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 during the period. Finally, NBC Securities Inc. lifted its holdings in 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 valued at $59,000 after acquiring an additional 7,744 shares during the last quarter. Institutional investors and hedge funds own 7.99% of the company’s stock.

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.