Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Sets New 12-Month High – Should You Buy?

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $8.62 and last traded at $8.64, with a volume of 782823 shares changing hands. The stock had previously closed at $8.54.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ERIC shares. StockNews.com raised Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a “neutral” rating in a report on Monday, October 21st.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.3 %

The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 1.19. The business has a 50 day moving average of $8.20 and a 200 day moving average of $7.68.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

A number of large investors have recently made changes to their positions in the stock. Hexagon Capital Partners LLC boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 225.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,664 shares of the communications equipment provider’s stock worth $43,000 after buying an additional 3,924 shares during the last quarter. Vest Financial LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 3rd quarter worth about $77,000. GAMMA Investing LLC raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 92.8% in the 3rd quarter. GAMMA Investing LLC now owns 10,534 shares of the communications equipment provider’s stock worth $80,000 after purchasing an additional 5,070 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter worth about $81,000. Finally, Assetmark Inc. raised its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,737.1% in the 3rd quarter. Assetmark Inc. now owns 12,382 shares of the communications equipment provider’s stock worth $94,000 after purchasing an additional 11,708 shares during the period. Institutional investors and hedge funds own 7.99% of the company’s stock.

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.