Ericsson (ERIC) Sees Strong Trading Volume
Shares of Ericsson (NASDAQ:ERIC) saw unusually-high trading volume on Tuesday . Approximately 3,951,913 shares were traded 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.
ERIC has been the subject of several recent analyst reports. Vetr cut Ericsson from a “buy” rating to a “hold” rating and set a $8.33 target price for the company. in a research note on Monday, April 25th. Swedbank cut Ericsson from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 3rd. JPMorgan Chase & Co. restated a “buy” rating on shares of Ericsson in a research note on Wednesday, May 4th. Goldman Sachs Group Inc. restated a “sell” rating on shares of Ericsson in a research note on Thursday, May 5th. Finally, Zacks Investment Research upgraded Ericsson from a “sell” rating to a “hold” rating in a research note on Monday, June 20th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Ericsson presently has a consensus rating of “Hold” and an average target price of $8.49.
The firm’s 50 day moving average price is $7.42 and its 200-day moving average price is $8.30. The company has a market capitalization of $24.53 billion and a price-to-earnings ratio of 15.25.
Ericsson (NASDAQ:ERIC) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by $0.02. Analysts anticipate that Ericsson will post $0.52 EPS for the current fiscal year.
A hedge fund recently raised its stake in Ericsson stock. US Bancorp DE boosted its stake in shares of Ericsson (NASDAQ:ERIC) by 15.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 at the end of the most recent reporting 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.