Ericsson (NASDAQ:ERIC) Short Interest Update

Ericsson (NASDAQ:ERIC) was the target of a large growth in short interest in December. As of December 31st, there was short interest totaling 44,980,722 shares, a growth of 32.3% from the December 15th total of 33,995,109 shares. Based on an average daily trading volume, of 5,803,136 shares, the short-interest ratio is presently 7.8 days. Approximately 1.3% of the shares of the stock are sold short. Approximately 1.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,803,136 shares, the short-interest ratio is presently 7.8 days.

Wall Street Analysts Forecast Growth

ERIC has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ericsson in a research note on Monday, December 29th. Barclays reissued an “underweight” rating on shares of Ericsson in a report on Wednesday, October 15th. Jefferies Financial Group raised shares of Ericsson to a “hold” rating in a report on Monday, October 13th. Cfra Research upgraded shares of Ericsson to a “hold” rating in a research report on Wednesday, October 15th. Finally, Citigroup reissued a “neutral” rating on shares of Ericsson in a report on Friday. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $9.80.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ERIC. Brown Brothers Harriman & Co. bought a new stake in shares of Ericsson during the 3rd quarter worth approximately $28,000. Cromwell Holdings LLC increased its position in Ericsson by 72.8% during the 2nd quarter. Cromwell Holdings LLC now owns 10,276 shares of the communications equipment provider’s stock valued at $87,000 after purchasing an additional 4,330 shares during the period. Jones Financial Companies Lllp lifted its holdings in Ericsson by 12.4% during the third quarter. Jones Financial Companies Lllp now owns 13,017 shares of the communications equipment provider’s stock worth $107,000 after buying an additional 1,441 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Ericsson in the 1st quarter worth $126,000. Finally, Neuberger Berman Group LLC lifted its stake in shares of Ericsson by 57.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 20,485 shares of the communications equipment provider’s stock worth $174,000 after purchasing an additional 7,452 shares during the last quarter. Institutional investors own 7.99% of the company’s stock.

Ericsson Price Performance

Shares of ERIC stock traded down $0.08 on Monday, reaching $9.42. The company’s stock had a trading volume of 6,535,569 shares, compared to its average volume of 6,501,235. The stock’s fifty day simple moving average is $9.59 and its 200-day simple moving average is $8.72. Ericsson has a 1 year low of $6.64 and a 1 year high of $10.35. The company has a market capitalization of $31.75 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 1.81 and a beta of 0.92. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.29.

About Ericsson

Ericsson AB is a Swedish multinational telecommunications equipment and services company headquartered in Stockholm. Founded in 1876 by Lars Magnus Ericsson, the company designs, develops and sells infrastructure, software and services that enable mobile and fixed-line networks worldwide. Ericsson serves a global customer base that includes mobile network operators, enterprise customers and public-sector organizations across Europe, the Americas, Asia-Pacific, the Middle East and Africa.

The company’s core activities center on building and modernizing network infrastructure, with a particular focus on radio access networks (RAN), core network software, cloud-native solutions and network management systems.