Ericsson (NASDAQ:ERIC) saw unusually-high trading volume on Tuesday . Approximately 6,589,452 shares changed hands during trading, an increase of 68% from the previous session’s volume of 3,924,628 shares.The stock last traded at $7.03 and had previously closed at $7.54.

ERIC has been the subject of several recent research reports. Bank of America Corp. reiterated a “buy” rating on shares of Ericsson in a research report on Thursday, March 24th. Vetr upgraded Ericsson from a “hold” rating to a “buy” rating and set a $10.08 price target for the company in a research report on Wednesday, March 23rd. TheStreet upgraded Ericsson from a “hold” rating to a “buy” rating in a research report on Monday, March 21st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Ericsson in a research report on Wednesday, May 4th. Finally, Barclays PLC upgraded Ericsson from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, July 6th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $8.93.

The firm has a 50-day moving average price of $7.63 and a 200-day moving average price of $8.61. The company has a market cap of $23.07 billion and a P/E ratio of 13.91.

Ericsson (NASDAQ:ERIC) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by $0.02. On average, equities research analysts forecast that Ericsson will post $0.60 EPS for the current fiscal year.

Several institutional investors have modified their holdings of the company. TD Asset Management Inc. increased its position in shares of Ericsson by 0.3% in the fourth quarter. TD Asset Management Inc. now owns 92,752 shares of the company’s stock worth $1,049,000 after buying an additional 237 shares during the period. US Bancorp DE increased its position in shares of Ericsson by 15.9% in the fourth quarter. US Bancorp DE now owns 136,189 shares of the company’s stock worth $1,308,000 after buying an additional 18,723 shares during the period. Russell Frank Co acquired a new position in shares of Ericsson during the fourth quarter worth about $1,368,000. Freestone Capital Holdings LLC increased its position in shares of Ericsson by 15.2% in the fourth quarter. Freestone Capital Holdings LLC now owns 261,959 shares of the company’s stock worth $2,517,000 after buying an additional 34,619 shares during the period. Finally, OppenheimerFunds Inc. increased its position in shares of Ericsson by 9.8% in the fourth quarter. OppenheimerFunds Inc. now owns 473,605 shares of the company’s stock worth $4,551,000 after buying an additional 42,294 shares during the period.

Telefonaktiebolaget LM Ericsson is a Sweden-based telecommunications operator. The Company offers hardware, software and services that drive development in mobility, broadband and the cloud, creating ecosystems across various industries. Ericsson’s core businesses are Radio, Core and Transmission, and Telecom Services.

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