Ericsson (NASDAQ:ERIC) Research Coverage Started at Morgan Stanley

Morgan Stanley started coverage on shares of Ericsson (NASDAQ:ERICFree Report) in a report published on Monday morning, MarketBeat reports. The firm issued an equal weight rating and a $11.00 price objective on the communications equipment provider’s stock.

Other equities research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Ericsson from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 18th. Jefferies Financial Group raised shares of Ericsson to a “hold” rating in a research note on Monday, October 13th. Cfra Research upgraded shares of Ericsson to a “hold” rating in a research note on Wednesday, October 15th. Danske downgraded shares of Ericsson to a “hold” rating in a report on Wednesday, October 15th. Finally, Barclays reiterated an “underweight” rating on shares of Ericsson in a research note on Wednesday, October 15th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Ericsson presently has a consensus rating of “Reduce” and an average target price of $10.40.

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Ericsson Trading Down 0.8%

NASDAQ:ERIC opened at $11.14 on Monday. Ericsson has a one year low of $6.64 and a one year high of $11.38. The business has a fifty day moving average price of $9.96 and a 200-day moving average price of $9.07. The firm has a market capitalization of $37.55 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.96 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.29 and a quick ratio of 1.08.

Hedge Funds Weigh In On Ericsson

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jump Financial LLC purchased a new position in shares of Ericsson in the second quarter valued at $17,461,000. FNY Investment Advisers LLC raised its stake in Ericsson by 1,050.0% during the second quarter. FNY Investment Advisers LLC now owns 575,000 shares of the communications equipment provider’s stock valued at $4,876,000 after purchasing an additional 525,000 shares in the last quarter. Quantbot Technologies LP bought a new position in Ericsson during the second quarter valued at $2,102,000. LSV Asset Management bought a new position in Ericsson during the second quarter valued at $291,000. Finally, ABC Arbitrage SA grew its stake in shares of Ericsson by 64.6% in the 2nd quarter. ABC Arbitrage SA now owns 5,121,349 shares of the communications equipment provider’s stock worth $43,429,000 after buying an additional 2,009,723 shares in the last quarter. 7.99% of the stock is owned by institutional investors.

Ericsson News Summary

Here are the key news stories impacting Ericsson this week:

About Ericsson

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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.

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Analyst Recommendations for Ericsson (NASDAQ:ERIC)

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