Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $8.62 and last traded at $8.64, with a volume of 782823 shares traded. The stock had previously closed at $8.54.
Analysts Set New Price Targets
Several brokerages have recently commented on ERIC. JPMorgan Chase & Co. raised their target price on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a "neutral" rating in a research note on Monday, October 21st. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a report on Wednesday, October 16th.
Check Out Our Latest Research Report on ERIC
Telefonaktiebolaget LM Ericsson (publ) Stock Up 2.1 %
The stock's fifty day moving average is $8.19 and its two-hundred day moving average is $7.67. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $29.06 billion, a PE ratio of -290.67 and a beta of 0.79.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Hexagon Capital Partners LLC lifted its position 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 valued at $43,000 after acquiring an additional 3,924 shares in the last quarter. Vest Financial LLC bought a new position in shares of Telefonaktiebolaget LM Ericsson (publ) during the third quarter valued at $77,000. GAMMA Investing LLC boosted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 92.8% during the third quarter. GAMMA Investing LLC now owns 10,534 shares of the communications equipment provider's stock valued at $80,000 after buying an additional 5,070 shares during the last quarter. Assetmark Inc. increased its holdings in 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 buying an additional 11,708 shares in the last quarter. Finally, Fulton Bank N.A. purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the 4th quarter worth about $102,000. 7.99% of the stock is currently owned by institutional investors.
Telefonaktiebolaget LM Ericsson (publ) Company Profile
(
Get Free Report)
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.
See Also
Before you consider Telefonaktiebolaget LM Ericsson (publ), you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Telefonaktiebolaget LM Ericsson (publ) wasn't on the list.
While Telefonaktiebolaget LM Ericsson (publ) currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
