Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Upgraded by StockNews.com to "Strong-Buy"

StockNews.com upgraded shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday morning.

Separately, JPMorgan Chase & Co. increased their price objective 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 equities research analysts have rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Stock Down 0.6 %

Shares of Telefonaktiebolaget LM Ericsson (publ) stock traded down $0.05 during trading on Wednesday, reaching $8.48. The stock had a trading volume of 24,892,878 shares, compared to its average volume of 16,630,432. 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 company has a market capitalization of $28.26 billion, a price-to-earnings ratio of -8.57 and a beta of 0.83. Telefonaktiebolaget LM Ericsson has a 52 week low of $4.33 and a 52 week high of $8.62. The stock has a fifty day moving average price of $7.36 and a two-hundred day moving average price of $6.40.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ERIC. Bank of Montreal Can grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% in the second quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider's stock valued at $83,788,000 after purchasing an additional 13,531,221 shares in the last quarter. Hsbc Holdings PLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at approximately $17,940,000. Acadian Asset Management LLC bought a new position in Telefonaktiebolaget LM Ericsson (publ) in the second quarter valued at approximately $11,869,000. DigitalBridge Group Inc. grew its stake 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 valued at $30,961,000 after purchasing an additional 785,261 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Telefonaktiebolaget LM Ericsson (publ) by 1,349.4% in the first quarter. BNP Paribas Financial Markets now owns 744,144 shares of the communications equipment provider's stock valued at $4,100,000 after purchasing an additional 692,804 shares in the last quarter. 7.99% of the stock is currently owned by 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.