Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Short Interest Up 5.5% in August

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 19,370,000 shares, an increase of 5.5% from the August 15th total of 18,360,000 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily trading volume, of 16,700,000 shares, the short-interest ratio is currently 1.2 days.

Analyst Ratings Changes

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

Telefonaktiebolaget LM Ericsson (publ) Stock Up 2.0 %

ERIC traded up $0.15 during trading on Thursday, hitting $7.50. The company had a trading volume of 5,890,722 shares, compared to its average volume of 16,722,113. Telefonaktiebolaget LM Ericsson has a 1-year low of $4.33 and a 1-year high of $7.51. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 0.90. The company has a market cap of $25.00 billion, a PE ratio of -7.57 and a beta of 0.83. The business has a 50-day moving average of $7.00 and a 200-day moving average of $6.12.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last issued its earnings results on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 14.13% and a positive return on equity of 11.39%. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.29 billion. As a group, analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.41 earnings per share for the current year.

Institutional Trading of Telefonaktiebolaget LM Ericsson (publ)

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Montreal Can grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 50,747.2% in the 2nd quarter. Bank of Montreal Can now owns 13,557,885 shares of the communications equipment provider’s stock worth $83,788,000 after acquiring an additional 13,531,221 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Telefonaktiebolaget LM Ericsson (publ) by 3.1% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 146,286,324 shares of the communications equipment provider’s stock valued at $921,604,000 after purchasing an additional 4,351,420 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Telefonaktiebolaget LM Ericsson (publ) during the second quarter valued at $17,940,000. Acadian Asset Management LLC acquired a new stake in shares of Telefonaktiebolaget LM Ericsson (publ) during the second quarter worth $11,869,000. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 835,784 shares of the communications equipment provider’s stock worth $5,265,000 after buying an additional 819,083 shares during the last quarter. Institutional investors and hedge funds own 7.99% of the company’s stock.

About Telefonaktiebolaget LM Ericsson (publ)

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.