Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Shares Gap Up to $6.39

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $6.39, but opened at $6.58. Telefonaktiebolaget LM Ericsson (publ) shares last traded at $6.66, with a volume of 10,245,348 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. decreased their price target on shares of Telefonaktiebolaget LM Ericsson (publ) from $5.81 to $5.58 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.58.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

The company has a market cap of $22.33 billion, a price-to-earnings ratio of -9.60 and a beta of 0.84. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average price is $5.94 and its 200 day moving average price is $5.69.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last released its earnings results on Tuesday, April 16th. The communications equipment provider reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 9.75% and a positive return on equity of 11.93%. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.33 billion. Equities research analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.38 earnings per share for the current year.

Hedge Funds Weigh In On Telefonaktiebolaget LM Ericsson (publ)

Large investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 835,784 shares of the communications equipment provider’s stock valued at $5,265,000 after purchasing an additional 819,083 shares in the last quarter. First Affirmative Financial Network increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 9.4% in the 1st quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider’s stock valued at $145,000 after purchasing an additional 2,268 shares in the last quarter. Natixis Advisors L.P. increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 15.4% in the 4th quarter. Natixis Advisors L.P. now owns 89,110 shares of the communications equipment provider’s stock valued at $561,000 after purchasing an additional 11,909 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 412.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 361,420 shares of the communications equipment provider’s stock valued at $2,277,000 after purchasing an additional 290,949 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 198.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 40,141 shares of the communications equipment provider’s stock valued at $253,000 after purchasing an additional 26,684 shares in the last quarter. Hedge funds and other institutional investors 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.