Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Short Interest Down 15.1% in July

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) saw a significant decline in short interest in July. As of July 31st, there was short interest totalling 22,240,000 shares, a decline of 15.1% from the July 15th total of 26,210,000 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 16,760,000 shares, the short-interest ratio is presently 1.3 days.

Telefonaktiebolaget LM Ericsson (publ) Trading Up 1.4 %

ERIC traded up $0.10 on Friday, hitting $7.10. The company had a trading volume of 11,205,987 shares, compared to its average volume of 17,029,846. The company has a market cap of $23.66 billion, a PE ratio of -7.17 and a beta of 0.84. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.33 and a 12-month high of $7.13. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The business's fifty day simple moving average is $6.43 and its 200 day simple moving average is $5.81.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last released its quarterly earnings results on Friday, July 12th. The communications equipment provider reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). The company had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.29 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.39% and a negative net margin of 14.13%. Equities research analysts expect that Telefonaktiebolaget LM Ericsson will post 0.35 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ERIC. Mercer Global Advisors Inc. ADV boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 1.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider's stock valued at $632,000 after buying an additional 1,777 shares during the period. Profund Advisors LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 3.0% during the second quarter. Profund Advisors LLC now owns 62,838 shares of the communications equipment provider's stock valued at $388,000 after buying an additional 1,823 shares during the period. DORCHESTER WEALTH MANAGEMENT Co boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 2.1% during the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 95,650 shares of the communications equipment provider's stock valued at $527,000 after buying an additional 2,000 shares during the period. Dynamic Advisor Solutions LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 16.7% during the second quarter. Dynamic Advisor Solutions LLC now owns 14,133 shares of the communications equipment provider's stock valued at $87,000 after buying an additional 2,024 shares during the period. Finally, First Affirmative Financial Network boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 9.4% during the first quarter. First Affirmative Financial Network now owns 26,354 shares of the communications equipment provider's stock valued at $145,000 after buying an additional 2,268 shares during the period. Hedge funds and other institutional investors own 7.99% of the company's stock.

Analysts Set New Price Targets

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

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.

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