Ericsson (NASDAQ:ERIC) Given Average Recommendation of “Reduce” by Analysts

Ericsson (NASDAQ:ERICGet Free Report) has been given an average rating of “Reduce” by the eleven ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $10.40.

ERIC has been the topic of a number of analyst reports. Argus raised Ericsson to a “hold” rating in a research report on Monday, January 26th. Morgan Stanley assumed coverage on shares of Ericsson in a report on Monday, February 9th. They set an “equal weight” rating and a $11.00 price target on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Ericsson in a research note on Monday, December 29th. Finally, Citigroup restated a “neutral” rating on shares of Ericsson in a research report on Friday, January 16th.

View Our Latest Stock Report on Ericsson

Ericsson Trading Up 0.7%

NASDAQ:ERIC opened at $11.33 on Tuesday. 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 $10.18 and a 200-day moving average price of $9.26. The firm has a market capitalization of $38.19 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 1.98 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

A number of hedge funds have recently made changes to their positions in ERIC. Jump Financial LLC bought a new stake in Ericsson during the 2nd quarter valued at approximately $17,461,000. ABC Arbitrage SA grew its holdings in Ericsson by 64.6% during the 2nd quarter. ABC Arbitrage SA now owns 5,121,349 shares of the communications equipment provider’s stock valued at $43,429,000 after buying an additional 2,009,723 shares in the last quarter. Defiance ETFs LLC bought a new stake in shares of Ericsson during the fourth quarter valued at approximately $13,766,000. BNP Paribas Financial Markets lifted its holdings in shares of Ericsson by 42.9% in the second quarter. BNP Paribas Financial Markets now owns 3,350,029 shares of the communications equipment provider’s stock worth $28,408,000 after buying an additional 1,005,398 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Ericsson by 229.3% during the fourth quarter. Van ECK Associates Corp now owns 1,252,437 shares of the communications equipment provider’s stock worth $12,086,000 after acquiring an additional 872,065 shares during the last quarter. Institutional investors own 7.99% of the company’s stock.

Ericsson News Summary

Here are the key news stories impacting Ericsson this week:

Ericsson Company Profile

(Get Free Report)

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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