Investors Buy Large Volume of Telefonaktiebolaget LM Ericsson (publ) Call Options (NASDAQ:ERIC)

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Stock traders purchased 4,336 call options on the stock. This represents an increase of approximately 450% compared to the average volume of 788 call options.

Analyst Ratings Changes

Several research firms recently weighed in on ERIC. JPMorgan Chase & Co. raised their target price on shares of 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. StockNews.com cut Telefonaktiebolaget LM Ericsson (publ) from a "strong-buy" rating to a "buy" rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Price Performance

Telefonaktiebolaget LM Ericsson (publ) stock traded up $0.99 during mid-day trading on Tuesday, reaching $8.53. 48,769,500 shares of the company's stock traded hands, compared to its average volume of 16,588,855. Telefonaktiebolaget LM Ericsson has a 12-month low of $4.33 and a 12-month high of $8.62. 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 stock has a 50 day moving average of $7.32 and a two-hundred day moving average of $6.38. The company has a market cap of $28.43 billion, a price-to-earnings ratio of -8.37 and a beta of 0.83.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last announced its earnings results on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). The business had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.29 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 14.13% and a positive return on equity of 11.39%. Equities analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.41 earnings per share for the current year.

Institutional Investors Weigh In On Telefonaktiebolaget LM Ericsson (publ)

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.2% in the 2nd 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. Hexagon Capital Partners LLC boosted its stake in Telefonaktiebolaget LM Ericsson (publ) by 225.5% during the third 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 period. Allspring Global Investments Holdings LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) during the first quarter valued at $36,000. BOKF NA purchased a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at $41,000. Finally, NBC Securities Inc. lifted its holdings in shares of Telefonaktiebolaget LM Ericsson (publ) by 258.1% in the 1st quarter. NBC Securities Inc. now owns 10,744 shares of the communications equipment provider's stock worth $59,000 after acquiring an additional 7,744 shares during the last quarter. 7.99% of the stock is currently owned by hedge funds and other institutional investors.

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.