Short Interest in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Decreases By 17.4%

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) saw a significant decline in short interest in the month of August. As of August 15th, there was short interest totalling 18,360,000 shares, a decline of 17.4% from the July 31st total of 22,240,000 shares. Currently, 0.6% of the company's shares are short sold. Based on an average daily volume of 16,840,000 shares, the short-interest ratio is presently 1.1 days.

Analyst Ratings Changes

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

Telefonaktiebolaget LM Ericsson (publ) Trading Up 0.3 %

ERIC stock traded up $0.02 during midday trading on Friday, hitting $7.45. The stock had a trading volume of 12,942,041 shares, compared to its average volume of 16,855,107. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average price of $6.70 and a two-hundred day moving average price of $5.93. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.33 and a 1-year high of $7.48. The firm has a market cap of $24.83 billion, a P/E ratio of -7.53 and a beta of 0.84.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last released its 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). Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 11.39% and a negative net margin of 14.13%. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.29 billion. On average, sell-side analysts predict that Telefonaktiebolaget LM Ericsson will post 0.35 earnings per share for the current fiscal year.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

Several hedge funds have recently modified their holdings of ERIC. Millennium Management LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the 2nd quarter valued at about $2,896,000. DigitalBridge Group Inc. boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 18.6% in the second quarter. DigitalBridge Group Inc. now owns 5,018,017 shares of the communications equipment provider's stock worth $30,961,000 after acquiring an additional 785,261 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at approximately $592,000. Squarepoint Ops LLC bought a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter valued at approximately $3,027,000. Finally, Marshall Wace LLP raised its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 39.3% during the second quarter. Marshall Wace LLP now owns 1,898,019 shares of the communications equipment provider's stock worth $11,711,000 after purchasing an additional 535,933 shares during the period. 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.