Ericsson (ERIC) Sees Unusually-High Trading Volume
Ericsson (NASDAQ:ERIC) saw strong trading volume on Tuesday . 3,951,913 shares changed hands during trading, an increase of 17% from the previous session’s volume of 3,388,709 shares.The stock last traded at $7.51 and had previously closed at $7.44.
A number of equities analysts have commented on the stock. Swedbank downgraded shares of Ericsson from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 3rd. Vetr downgraded shares of Ericsson from a “hold” rating to a “sell” rating and set a $7.64 target price on the stock. in a research note on Wednesday, June 22nd. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Ericsson in a research note on Wednesday, May 4th. Goldman Sachs Group Inc. raised shares of Ericsson from a “sell” rating to a “neutral” rating in a research note on Tuesday, June 21st. Finally, Zacks Investment Research raised shares of Ericsson from a “sell” rating to a “hold” rating in a research note on Monday, June 20th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $8.49.
The company has a 50-day moving average of $7.43 and a 200-day moving average of $8.29. The stock has a market capitalization of $24.15 billion and a P/E ratio of 14.869.
Ericsson (NASDAQ:ERIC) last released its earnings results on Tuesday, July 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.02. On average, equities analysts forecast that Ericsson will post $0.52 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Ericsson stock. US Bancorp DE boosted its position in shares of Ericsson (NASDAQ:ERIC) by 15.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,189 shares of the company’s stock after buying an additional 18,723 shares during the period. US Bancorp DE’s holdings in Ericsson were worth $1,308,000 as of its most recent filing with the SEC.
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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